Stock Futures Down Slightly As US Prepares to Gradually Open Up Economy

While the United States hopes for economic recovery from the reopening of businesses, tech companies have shown resilience to the coronavirus-induced quarantines and lockdowns.

US stock futures fell slightly in overnight trading on Monday, according to CNBC News.

Futures contracts tied to Dow Jones Industrial Average dropped about 80 points tonight. The S&P 500 and Nasdaq 100 futures also fell 10 and about 15 points, respectively.

The tech-heavy Nasdaq Composite was in positive territory for a sixth day in the previous session, fueled by the gains of tech companies amid the COVID-19 pandemic.

During the quarantine, shares of Amazon and Microsoft have surged more than 30 percent and 18 percent, respectively. The US video streaming service Netflix has also gained more than 30 percent this year.

The White House is eager to see the country re-open, saying that the pandemic has passed its peak and devised federal guidance to jumpstart the nation’s economy. On Friday, the Labor Department reported more than 20 million jobs lost in April alone, with the unemployment rate reaching 14.7 percent, a record since the US government began collecting data in the late 1930s.

Sourse: sputniknews.com