S&P 500 futures climb slightly following broad index’s best week of the year
Stock futures climbed slightly on Monday morning as Wall Street looks to what’s next after a post-election rally propelled the market to record highs.
Futures tied to the Dow Jones Industrial Average added 55 points, trading 0.12% up. S&P 500 futures were also 0.18% higher, while Nasdaq 100 futures climbed 0.23%.
Sunday’s action follows a big week for U.S. stocks, with the three major averages closing at all-time closing highs. The Dow and S&P 500
both notched their strongest weeks in around one year, with the former at one point breaking above the 44,000 level for the first time.
Last week’s rally was considered broad, with both the tech-heavy Nasdaq Composite and small cap-focused Russell 2000 also advancing.
A large chunk of the week’s gains came Wednesday, when the Dow rallied 1,500 points after Donald Trump won the presidential election. Traders also closely followed Thursday’s Federal Reserve policy announcement where it was revealed that interest rates would be once again lowered and the subsequent press conference with Chair Jerome Powell.
“Investors hate uncertainty, and, with the election decided, markets now have clarity, and are able to lay fears of a contested election to rest,” Northern Trust investment chief Katie Nixon wrote to clients on Friday. “Investors can now train their focus on what matters most to markets economic and corporate fundamentals.”
There is no economic data of note expected Monday, but investors will be awaiting inflation readings due out later in the week. Ticketmaster parent Live Nation and food and facility service provider Aramark are among companies reporting earnings on Monday. (Cay)
Source: CNBC
