U.S. stock futures saw an increase on Monday, with Wall Street poised to continue the momentum from the previous session’s strong performance, buoyed by new jobs data that reignited hopes of a potential Federal Reserve interest rate cut.
Dow Jones Industrial Average futures rose by 83 points, representing a 0.2% gain, while S&P 500 futures and Nasdaq-100 futures also showed a 0.3% uptick.
Following the release of the latest nonfarm payrolls report on Friday, which revealed a lower-than-expected increase in jobs for April along with a rise in unemployment, the Dow, S&P 500, and Nasdaq Composite each surged by over 1%. This data alleviated concerns of an overheating economy, sparking optimism among traders that the Fed could move forward with interest rate reductions sooner than anticipated this year.
Source (CNBC)
