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U.S. equity futures fell on Monday, suggesting major stock indexes will fall lower from record levels as investors posted profits while weighing further political and economic uncertainties.
Futures contracts linked to the S&P 500 were down 0.5%, indicating that the benchmark may fall from the all-time high it closed on Friday. Contracts linked to the Nasdaq-100 fell 0.4% and those linked to the Dow Jones Industrial Average fell 0.7%.
Shares have rallied in recent days on bets that a Democrat-controlled Congress will increase government spending, thereby bolstering economic recovery.
Market sentiment fades at the start of the new week as investors face a number of risks. Politically, House Speaker Nancy Pelosi (D., Calif.) Has said the House may decide to impeach President Trump as early as this week. This raises fears that the new grudge in Washington may diminish support for other important measures.
Recent economic data also showed that the recovery in the US labor market stalled in December, ending seven months of job growth and adding to fears that the near-term outlook could worsen. Covid-19 infection rates also remain high. Experts this month warned of an increase in the number of new cases, hospitalizations and deaths after the holiday gatherings and travel in December.
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