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Aug. 4, 2020, 8:46 a.m. EDT

Futures Improve with Gold Prices

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U.S. stock futures traded near the flatline early Tuesday morning after the major averages logged in sharp gains to start the new month on Monday.

Futures for Dow Jones Industrials dipped 81 points, or 0.3%, early Tuesday, to 26,477.

Futures for the S&P 500 slid 14 points, or 0.4%, at 3,274.50.

Futures for the NASDAQ dropped 43.5 points, or 0.4%, to 11,000.75.

The Dow closed Monday's session up more than 200 points, or 0.9%. The S&P 500 rallied to its highest level since Feb. 21 and the NASDAQ closed at a record high.

Those gains came after Microsoft and Apple powered the S&P 500 tech sector to an all-time high, Microsoft rising 5.6% and Apple up 2.5%.

Tech has been by far the best-performing sector this year, rising more than 23% in that time period.

Sentiment on Wall Street also got a boost after Eli Lilly started a late-stage trial for its coronavirus antibody treatment. The trial will explore whether LY-CoV555 can prevent the virus from spreading between nursing home residents and staffers.

To be sure, investors continue to monitor negotiations over a new stimulus package as lawmakers struggle to make progress. House Speaker Nancy Pelosi said she, Senate Minority Leader Chuck Schumer and White House chief of staff Mark Meadows held "productive" discussions on

Monday, but added there are several issues still outstanding.

Overseas, in Japan, the Nikkei 225 surged 1.7% while in Hong Kong, the Hang Seng index gained 2%.

Oil prices sank 66 cents to $40.35 U.S. a barrel.

Gold prices took on four dollars to $1,990.30.


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