US index futures and global stocks rose for a fourth straight day, hitting new all time highs on Tuesday after the Democrat-controlled House sided with Trump and passed a bill boosting stimulus payments for most Americans from $600 to $2,000 (which will almost certainly die in the Republican-controlled senate). The dollar dropped while oil and 10Y yields rose.
Boeing added 0.6% in pre-market trade as American Airlines was set to restart U.S. 737 MAX commercial flights on Tuesday morning. Apple was up 0.6% before the bell, set to open at $137.44 and extending a rally that has returned it near record levels. The stock rose 3.6% on Monday and closed at a record, though it fell short of an intraday peak of $137.98 set in September. The iPhone maker has gained 86% this year, and it is set to close out a second straight year with a gain above 80%
The late December rally comes just as expected, with a seasonal analysis conducted at the start of the month showing that the last 10 days of December – already the strongest month for stocks which are up 74% of the time with an average return of 1.3%…