Donald Trump just signed an executive order – what does the Stock Market think?

.S. stock futures were mixed early Monday morning after President Donald Trump signed several executive orders aimed at extending coronavirus relief.

Dow Jones Industrial Average futures were up 76 points at of 12:09 a.m. ET on Monday, indicating a gain of about 66 points at market open. S&P 500 futures also pointed to opening gains while Nasdaq 100 futures were marginally lower.

Those orders continue the distribution of expanded unemployment benefits, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday. However, the unemployment benefit will be continued at a reduced rate of $400 per week. Originally, the benefit provided workers impacted by the pandemic with $600 per week.

Trump’s moves come after congressional leaders failed to make progress on a new coronavirus stimulus package last week. Several benefits from a package signed earlier in the year lapsed at the end of July, raising uncertainty about the U.S. economy moving forward.

“The fiscal cliff still represents downside risk for August,” said Aneta Markowska, chief financial economist at Jefferies. Markowska added, however, any weakness from this will be “short-lived.”

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