Stock Futures Opened High as Moderna and Tesla Increased

Stock Futures Opened High as Moderna and Tesla Increased

Stocks opened high after the S&P 500 hit record close on Tuesday evening. Moderna shares (MRNA) gained more than 10% shortly after the company announced its agreement to supply 100 million doses of the Covid-19 vaccine candidate to the US government, which is currently in its final stages. Meanwhile, Tesla stock (TSLA) rose 7% after the company announced a five-to-one share split, and the stock closed at over $ 1,300 per share early Tuesday. As the hopes of a short-term virus aid package from Congress diminished, stocks were seen to experience regular session declines. Major negotiators, including Treasury Secretary Steven Mnuchin, White House Chief of Staff Mark Meadows, Spokesperson Nancy Pelosi, and Senate Minority Leader Chuck Schumer have not met since Friday to discuss a new package. Lawmakers are still divided over the amount of aid to state and local governments. Other national developments also contributed to the risk aversion mood on Tuesday afternoon.

Stocks Opened High

S&P 500 futures (ES = F): 3,339.5, up 9.5 points or 0.29%. Dow futures (YM = F): 27,685.00, up 71 points or 0.26%. Nasdaq futures (NQ = F): 10,935.5, up 57 points or 0.52%.