Devik Jain & Ambar Warrick

(Reuters) – Friday’s record-breaking high was driven by investors seeking economically sound sectors following a delay in the vote on President Joe Biden’s $1.75 Trillion spending bill. Meanwhile, sentiment has been impacted by rising COVID-19 counts in Europe.

S&P and fell tracking losses in banks, airlines, and other economically sensitive sectors. Demand for value stocks was also low due to uncertainty over inflation rising and Federal Reserve tightening.

Early Friday, the U.S. House of Representatives delayed a vote on Biden’s climate change investment and social programs bill. Instead, they will meet at 8 a.m. EST (13300 GMT) in order to finish the legislation.

Austria, Germany and other European countries have begun to plan for full lockdowns in response to rising COVID-19 infections. Germany may follow this trend amid an influx of new infections.

Alphabet Shares (NASDAQ) Inc., Amazon.com. (NASDAQ) Microsoft Corp (NASDAQ: ) These stocks, which have mostly survived economic shocks starting in 2020, rose between 0.3% & 0.5% during premarket trade.

Nvidia Chipmaker (NASDAQ:), also lifted Nasdaq Futures. It rose 1.7% in heavy trading after posting strong quarter-end results on Wednesday.

However, airlines Delta Air Lines (NYSE) and United Airlines and American Airlines(NASDAQ:) as well as cruiseliners Norwegian Cruise Line and Carnival (NYSE) Corp declined between 1.4% to 2.3%.

Oil firms Exxon Mobil (NYSE: Chevron Corp (NYSE:) slipped 2.1% and 1.8% as crude prices sank, while big banks including JPMorgan Chase & Co (NYSE:) and Bank of America (NYSE:) were down between 0.9% and 1.1%, tracking a fall in U.S. Treasury yields. [O/R][US/]

6.26 AM ET ET Dow e-minis dropped 0.4% at 6:26 AM ET. The Dow e-minis fell 5.75 points or 0.12%, and the Nasdaq 100 was up 68 point or 0.41%.

After strong retail and technology earnings, the Nasdaq and The Nasdaq both reached record heights Thursday. The indexes saw mild gains over the week, with both Nasdaq and Dow Jones seeing slight losses for the second consecutive week.

The following are the top premarket players: Use Intuit Inc (NASDAQ) rose 10.3% after brokerages increased their price targets for the software company that helps with income taxes. After beating quarterly forecasts and exceeding estimates, Inc (NASDAQ:), climbed 10.3%. The stock was the top S&P 500 gainer in premarket trade.

Applied Materials Inc. (NASDAQ:) plunged 5.7% as the chipmaker’s forecast for first-quarter sales was lower than what market analysts had predicted.