5 things to know before the stock market opens Monday - CNBC

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1. Dow to struggle at open to add to last week's gains

2. New U.S. coronavirus cases remain elevated

A Miami Beach police officer directs people out of the entertainment district as a curfew from 8 p.m. to 6 a.m. is put in place on July 18, 2020 in Miami Beach, Florida.

Joe Raedle | Getty Images News | Getty Images

New U.S. coronavirus cases were lower Saturday and Sunday, totaling nearly 64,000 and almost 62,000 respectively after exceeding 70,000 two days in a row Thursday and Friday.

Florida reported 12,523 new infections Saturday, marking the fifth consecutive day the hot-spot state reported more than 10,000 new cases, according to the state's health department.

In Ohio, Republican Gov. Mike DeWine told NBC's "Meet the Press" on Sunday, "We're going the wrong way." However, Ohio's recent run of over 1,300 daily coronavirus cases is much lower than totals in many of the nation's hardest hit states.

3. Capitol Hill under pressure to pass another stimulus bill

House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch McConnell (R-KY) sit next to each other during a Congressional Gold Medal Award ceremony for Steve Gleason at the U.S. Capitol in Washington, January 15, 2020.

Joshua Roberts | Reuters

With Covid-19 cases hitting alarming highs, lawmakers return to Washington on Monday, under pressure to pass a new economic stimulus measure. Senate Majority Leader Mitch McConnell, R-Ky., is expected to roll out his $1 trillion-plus proposal. House Speaker Nancy Pelosi, D-Calif., already pushed through a $3 trillion relief bill.

Republicans and Democrats have been unable to agree on how to handle the expiration at the end of the month of a federal $600-per-week boost to regular state unemployment benefits.

In late March, as Congress passed a $2.2 trillion Covid-19 rescue package, cases soared past 100,000 and deaths topped 2,000. As of Monday morning, total U.S. infections approached 3.8 million with more than 140,500 deaths.

4. 'The Strike for Black Lives' set for Monday

Kiara Williams and Livia Johnson, organization leaders for Warriors in the Garden scream into megaphones to lead a group of hundreds of protesters in chants as they march from Trump International Hotel and Tower in Columbus Circle through Times Square and down 5th Avenue in New York, June 14, 2020.

Ira L. Black | Corbis via Getty Images

In New York City, workers taking part in "The Strike for Black Lives" are set to gather Monday outside of the Trump International Hotel to demand the Senate and the president pass and sign the new House-passed Covid-19 economic stimulus bill.

Organizers of Monday's planned national walkout said tens of thousands are set off their jobs in more than two dozen U.S. cities to protest systemic racism and economic inequality that's only worsened during the pandemic. Organizers said many strikers are taking particular aim at corporations such as Walmart and McDonald's.

Strikes in Minneapolis, where George Floyd was killed by a police officer on May 25, will include nursing home and airport workers demanding a $15-per-hour minimum wage.

5. Disney quietly joins Facebook ad boycott

Disney has become the latest company to cut its advertising spending on Facebook as the social network faces an ad boycott over its handling of hate speech and controversial content, according to The Wall Street Journal. Disney joins other companies including Starbucks and Unilever that have pulled ads from the tech giant. Unlike others, Disney did not make a public announcement but instead quietly shifted its Facebook ad spending, the Journal reported.

Shares of Facebook were lower in Monday's premarket trading. The stock came under heavy pressure late last month as the ad boycott was gaining stream, but it has since recovered those losses.

— The Associated Press and Reuters contributed to this report.

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5 things to know before the stock market opens Monday - CNBC
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