US stock futures point to mixed Wall Street opening on New Year’s Eve, but 2021 looked on positively

7.20am: Not so fond farewell to 2020 US stock futures pointed to a mixed opening on New Year’s Eve, with Wall Street set for a quiet finish to a year that saw the major indexes drop sharply in the spring at the start of the coronavirus (COVID-19) pandemic before snapping back to post record highs in December as vaccines and economic stimulus packages brought hope for 2021. Futures for the Dow Jones Industrial Average wavered between gains and losses on Thursday, with the S&P 500 index seen similarly becalmed, although Nasdaq 100 index futures ticked up 0.2%. The three major US indexes have all notched up record closes so far in 2020, with the Dow Jones hitting its 13th all-time finishing high of the year on Wednesday. The Nasdaq Composite Index is on track for its best annual performance since 2009. Trading on Thursday is likely to be muted as investors hold off making any big changes to portfolios ahead of the new year holiday. US and European markets will all be closed on New Year’s Day. Investors are hoping that the widespread rollout of vaccines will allow for the resumption of normal social and business activity, helping accelerate the economic rebound in 2021. Central banks and governments are also widely expected to continue providing additional support to the economy. Data on US unemployment benefits claimants in the week ended December 26, 2020, are due at 8.30am ET. Economists expect weekly jobless claims to have edged higher, as a surge of coronavirus cases across the US has prompted some states to impose new restrictions on businesses. California has become the second state to record a case of the new, more infectious strain initially discovered in the UK. Among corporate news, ExxonMobil (NYSE:XOM) has said it expects to write down US$18bn-US$20bn of assets amid the sector crisis, although higher oil, gas and chemicals prices are expected to lift fourth-quarter earnings.