Dow Futures Rise 100 Points
US stock futures rose Sunday night, according to CNBC.
The market is expected to close with its best August performance since the 1980s.
- Dow Jones Industrial Average futures were up 141 points, or 0.5 percent.
- S&P 500 futures were up 0.5 percent.
- Nasdaq 100 futures were up 0.6 percent.
The S&P 500 is up 7.2 percent month-to-date for its biggest August since 1984. The Dow is up 8 percent this month. The S&P 500 has closed at record levels in recent sessions while the Dow is up 0.4 percent year-to-date. Since the March 23 intraday low, the Dow and S&P 500 are up 57 percent and 60.1 percent, respectively.
We “had hoped that the market would consolidate its gains since March 23, giving earnings a chance to rebound,” said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note. “However, Fed officials continue to drive up stock prices by committing to keeping interest rates close to zero for a very long time … Consequently, they are fueling the meltup in stock prices.”
Tomorrow, the Dow will trade with three new companies in the index. Salesforce.com, Amgen, and Honeywell are replacing Exxon Mobil, Pfizer, and Raytheon Technologies. Apple and Tesla will also start trading on a split-adjusted basis.
The latest US jobs report is set for release this Friday with economist polled by Dow Jones expecting 1.255 million jobs created.