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U.S. stock futures were flat early Monday morning after President Donald Trump signed several executive orders aimed at extending coronavirus relief.
Futures for Dow Jones Industrials gained 92 points, or 0.3%, early Monday, to 27,425.
Futures for the S&P 500 acquired three points, or 0.1%, at 3,347.75.
Futures for the NASDAQ added 10 points, or 0.1%, to 11,130.25.
Wall Street was coming off a strong weekly performance. The Dow rose 3.8% last week for its biggest weekly gain since June. The S&P 500 climbed 2.5% along with the Nasdaq Composite. Last week’s gains come during a historically tough time for the market as August kicks off the worst three-month stretch for the S&P 500.
Those gains were led in part by Facebook, Apple and Microsoft, all of which rose by more than 3% last week. They also left the S&P 500 just 1.2% below its Feb. 19 record high.
Trump’s orders continue the distribution of expanded unemployment benefits, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday.
However, the unemployment benefit will be continued at a reduced rate of $400 per week. Originally, the benefit provided workers impacted by the pandemic with $600 per week.
Trump’s moves come after congressional leaders failed to make progress on a new coronavirus stimulus package last week. Several benefits from a package signed earlier in the year lapsed at the end of July, raising uncertainty about the U.S. economy moving forward.
Overseas, in Hong Kong, the Hang Seng index demurred 0.6%, while markets in Japan were shuttered for holiday.
Oil prices rose 65 cents to $41.87 U.S. a barrel.
Gold prices soared $15.50 to $2,043.50.
