Dow Futures Point to Open Higher after Coming Out of the Best Month in 3 Decades!

U.S. stock futures pointed to a gain on Tuesday after coming out of a huge rally in November, posting the best one-month gain in more than three decades.

 

As of 14:15 local time in Thailand, Dow Jones Futures rose 223 points or 0.75% to 29,852 points. Meanwhile, S&P 500 Futures and Nasdaq Futures gained 0.81% and 0.93%, respectively.

 

Dow Jones gained 11.8% in November, the best one-month gain since 1987, followed by a 10.8% gain in S&P 500 and a 11.8% increase in Nasdaq. The increase in November was driven by optimism on coronavirus vaccines as leading drug producers announced their success in the trials, consecutively, as Pfizer, BioNTech and Moderna led the group with more than 90% effectiveness of the vaccine.

The producers are waiting for a green light from the United States Food and Drug Administration (FDA) as the market expected coronavirus vaccine from top producers could be ready to use by year end or early January.