US stock futures fell Monday, suggesting major stock indices will fall from record highs as investors made gains as they weigh up new political and economic uncertainties.
Futures pegged to the S&P 500 fell 0.5%, indicating that the reference index could fall from its all-time high it closed Friday. Contracts pegged to the Nasdaq-100 slightly lower 0.4% and those pegged to the Dow Jones Industrial Average fell 0.7%.
Shares have rallied in recent days on bets that a Democrat-controlled congress will increase government spending and bolster the economic recovery.
Market sentiment is waning at the start of the new week as investors face a number of risks. On the political front, House Speaker Nancy Pelosi (D., California) said the House may decide to impeach President Trump this week. That raises concern that new resentment in Washington may diminish support for other important measures.
Recent economic data also showed that the US labor market recovery stalled in December, ending seven months of job growth and heightening concerns that the near-term outlook is deteriorating. The percentage of Covid-19 infections also remains high. Experts warned this month of spikes in new cases, hospitalizations and deaths after the December holiday meetings and travel.