Futures contracts rise in trading before Christmas; Alibaba comes across a Chinese probe

© Reuters. FILE PHOTO: The Charging Bull or Wall Street Bull is pictured in the Manhattan neighborhood of New York City

By Devik Jain and Ambar Warrick

(Reuters) – U.S. stock index futures rose on Thursday ahead of a shortened trading session on hopes of a gradual economic rebound, while Ali Baba (NYSE 🙂 collapsed after China launched an antitrust investigation into the e-commerce giant.

The and the Dow ended higher on Wednesday as investors turned to cyclical stocks that stand to benefit the most from a rally, encouraged by the rollout of the COVID-19 vaccine and passage of the relief bill. of the coronavirus.

The so-called spin weighed on the tech-dominated Nasdaq, which ended lower.

Investors also applauded reports that Britain and the European Union were on the verge of reaching a close trade deal on Brexit.

At the same time, President Donald Trump vetoed a bipartisan defense policy bill on Wednesday and raised the possibility that the United States could face a government shutdown during a pandemic.

Alibaba Group plunged 7.3% after China launched an antitrust investigation into the major trade as part of an accelerated crackdown on anti-competitive behavior.

As of 6:37 a.m. ET, were up 50 points, or 0.17%, were up 7.75 points, or 0.21%, and were up 17.75 points, or 0.14%.

Markets will close at 1:00 p.m. ET on Thursday and will be closed for the Christmas holidays on Friday.

Energy stocks, including Exxon Mobil Corp (NYSE 🙂 and Chevron Corp (NYSE :), edged up in pre-market trading, following the strength of the crude market as a drop in U.S. stocks and hints of an impending Brexit deal supported prices for the oil. [O/R]

Warning: Fusion Media reminds you that the data on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but rather by market makers, so prices may not be precise and may differ from the actual market price. , which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of this data.

Fusion Media or anyone involved in Fusion Media will not accept any responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics, and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

Leave a Reply

Your email address will not be published. Required fields are marked *