U.S. stock futures have indicated a slightly higher opening on Monday as the three major stock market indices extended their winning streak for the seventh consecutive week.
Futures tied to the Dow Jones Industrial Average are up 0.2%, adding 64 points. The S&P 500 futures are also up 0.2%, while Nasdaq 100 futures have risen by 0.1%.
Notably, the S&P 500’s seven-week winning streak marks its longest stretch of weekly gains since 2017. Consequently, the broad market index has seen a month-to-date increase of 3.3%, while the Dow and Nasdaq have shown gains of 3.8% and 4.1%, respectively. Moreover, the Dow reached a new intraday high on Friday, with the Nasdaq 100 closing at a record high.
Investor sentiment was buoyed last week by the Federal Reserve’s announcement of its plans to potentially implement three interest rate cuts by 2024 in response to moderating inflation.
Source (CNBC)
