Stock futures inch higher after S&P 500′s best weekly win streak of 2024
U.S. stock futures ticked higher on Monday after the Dow Jones Industrial Average and S&P 500 notched their best weekly win streaks of 2024.
Dow Jones Industrial Average futures rose by 37 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures climbed 0.4% and 0.6%, respectively.
The moves come after both the S&P 500 and 30-stock Dow registered all-time highs on Friday, cementing a sixth straight weekly advance that is this year’s best for both benchmarks. The S&P 500 ended the week 0.85% higher, while the Dow closed up 0.96%. The Nasdaq Composite climbed 0.80%.
Whether stocks can sustain those gains may depend on whether companies can beat expectations this earnings season, which is set to ramp up this week. Roughly one-fifth of S&P 500 companies are set to report through Friday.
Thus far, the results have been mixed. Of the 14% of S&P 500 companies that have already posted third-quarter results, 79% have beaten expectations, according to FactSet’s John Butters. However, the magnitude of those beats have been more lackluster, he noted.
The recent winning streak has investors optimistic equities still have further to run. Still, they are mindful that stretched valuations, ahead of the U.S. presidential election and amid rising geopolitical risks, could also mean further choppiness.(Cay)
Source : CNBC
