Stock futures push higher
U.S. stock futures jumped early Monday, suggesting stocks would begin the new week with slight gains as traders braced for a wave of stimulus checks.
By 5:50 a.m. ET, futures tied to the blue-chip Dow futures were up 87.5 points, or 0.28% to 31,129.5. The S&P 500 futures rose 8.63 points, or 0.22% to 3,888.88 while the tech-heavy Nasdaq 100 futures added 48.12 points, or 0.35% to 13,646.12.
Over the weekend, Treasury Secretary Janet Yellen said on CNN’s “State of the Union” that American workers who make $60,000 per year ought to receive stimulus checks as part of the Biden administration’s proposed $1.9 trillion Covid-19 relief package.
Traders will get more details on the size of the massive package later this week, and who won’t be eligible for the $1400 direct payments.
Kia Motors, Hyundai confirm they are not in talks with Apple on autonomous electric car
Kia and its parent Hyundai Motor Company have said they are not in talks with Apple (NASDAQ: AAPL) to develop a self-driving electric car after multiple media outlets reported last week that a deal was imminent.
Hyundai and Kia announced in new filings on Monday that they are not in talks with the iPhone maker regarding Apple Car production.
The companies confirmed they “have been talking with multiple companies about autonomous electric car development,” but no decision has been reached.
Dogecoin surges higher helped by celebrity tweets
Dogecoin briefly touched a record Monday after a host of celebrities including Elon Musk sent out tweeted about the Shiba Inu-themed cryptocurrency.
According to data compiled by CoinMarketCap, Dogecoin soared 65% in 24 hours to a record high of $0.083745 at 5:30 p.m. ET on Sunday after Musk tweeted “who let the Doge out.”
Rapper Snoop Dogg also pinned a tweet with “Snoop Doge,” while Kiss bassist Gene Simmons called himself “God of Dogecoin.”
Dogecoin is now valued at $10 billion, making it the 8th-largest digital coin.
Meanwhile, Bitcoin surpassed $40,000 over the weekend, before falling back to $39,200 early Monday.
