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Wall Street's major indexes rounded off 2020 with strong gains
as a wave of monetary stimulus and promising developments on the
vaccine front helped the indexes recover from their sharpest
contraction in decades.
Latest surveys showed manufacturers across Europe ended the year
on a high, while Asian factory activity expanded moderately,
thanks to robust demand in regional giant China.
U.S. factory activity data is expected later in the day.
On the vaccine front, Britain on Monday became the first country
to roll out the COVID-19 shot developed by Oxford University and
AstraZeneca.
However, some investors are cautious about economic growth as
U.S. jobless claims remain stubbornly high and a new round of
business closures last month as well as the discovery of a new
variant of the coronavirus have cast a shadow on the outlook.
All eyes are on the twin U.S. Senate runoff elections on Tuesday
in the battleground state of Georgia, which will determine
control of the chamber and, effectively, the fate of
President-elect Joe Biden's legislative agenda.
The three stock index futures hit all-time highs. At 06:37 a.m.
ET, Dow E-minis were up 183 points, or 0.6%, and S&P 500 E-minis
were up 20.5 points, or 0.55%. Nasdaq 100 E-minis were up 57.75
points, or 0.45%.
Tesla Inc shares rose 2.7% in trading before the bell to a
record high after the electric-car maker reported
better-than-expected vehicle deliveries in 2020, extending a
meteoric rally that has seen the stock surge more than 700%.
(Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)
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