Rep. Doug Collins, R-Ga., discusses the coronavirus relief bill and the Hunter Biden probe.
U.S. stock futures were little changed Friday morning as Congress continues to negotiate a COVID-19 relief package and as Moderna’s COVID-19 vaccine awaits U.S. Food and Drug Administration approval.
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Dow Jones Industrial Average futures were up 19 points, or 0.06%, while S&P 500 futures were down 0.11% and Nasdaq futures were higher by 0.04%. All three of the major averages finished at record highs Thursday.
Top Republican and Democratic leaders continue to grapple over the size and scope of an aid package that is expected to extend unemployment benefits and Paycheck Protection Program funding and potentially deliver direct payments to most Americans.
Meanwhile, a Food and Drug Administration advisory panel on Thursday endorsed Modern Inc.’s COVID-19 vaccine for emergency use in a 20-0 vote, with one panel member abstaining. Once the FDA grants emergency use authorization, Moderna will ship millions of doses nationwide, with health care workers and high-risk patients expected to receive the first vaccinations.
US TO BLACKLIST DOZENS OF CHINESE COMPANIES, WILBUR ROSS SAYS
Elsewhere, the Trump administration placed Semiconductor Manufacturing International Corp., the largest Chinese chip manufacturer, and dozens of Chinese firms on the so-called entity list due to national security concerns, Commerce Secretary Wilbur Ross told FOX Business’ Maria Bartiromo on Friday.
Tesla Inc. will be added to the S&P 500 after Friday’s closing bell. The electric-car maker will be the index’s eighth-largest member and will make up about 1.5% of its market capitalization.
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In deals, Amsterdam-based Philips agreed to buy U.S. cardiac and diagnostics monitoring firm BioTelemetry for $2.8 billion, or $72 per share. The deal price represents a 16.5% premium to where shares closed on Thursday.
In earnings, FedEx Corp. reported earnings and revenue ahead of Wall Street estimates as revenue per package rose 7% during the three months through November.
Darden Restaurants Inc., the operator of restaurants including Olive Garden and LongHorn Steakhouse, said quarterly profit spiked 289% year over year as cost cuts more than offset limited dining capacities caused by COVID-19.
Nike Inc. is set to report its quarterly results after the closing bell.
Looking at commodities, gold climbed $3.20 to 1,893.60 and West Texas Intermediate crude oil was down 1 cent at $48.35 per barrel.
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European markets were trading modestly higher across the board with France’s CAC 40 edging up 0.05%, Britain’s FTSE 100 climbing 0.22% and Germany’s DAX 30 gaining 0.33%.
In Asia, Hong Kong’s Hang Seng index paced the decline, down 0.67%, while China’s Shanghai Composite and Japan’s Nikkei 225 lost 0.29% and 0.16%, respectively.
