U.S. index futures are modestly higher in early trading on Monday, suggesting that the upward momentum remains intact, albeit laced with caution. Traders will likely scan speeches by Federal Reserve officials for confirmation regarding rate trajectory. The global markets have taken development in the Middle East in their stride, underlining their resilience. The week will be all about Nvidia Corp.‘s (NASDAQ:NVDA) earnings. Although looking for a beat, an analyst says either way, the AI stalwart’s earnings report could give a boost to the market.
Futures
Performance (+/-)
Nasdaq 100
+0.22%
S&P 500
+0.15%
Dow
+0.07%
R2K
+0.12%
In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.12% to $530.10 and the Invesco QQQ ETF (NASDAQ:QQQ) traded up 0.20% at $452.68 according to Benzinga Pro data.
Cues From Previous Week
The April inflation print along with some weak economic data reinforced expectations concerning rate cuts, sending bond yields lower. Tamer inflation data released mid-week provided the spark, sending averages into record territory. Stocks gave back some of the gains over the remainder of the week and yet closed notably higher. More importantly, the 30-stock Dow Jones Industrial Average closed above the 40,000 psychological resistance for the first time ever on Friday.
The Dow extended its winning streak to five straight weeks, while the Nasdaq Composite ...Full story available on Benzinga.com
Related tickers: SPY, NDSN, NVDA, QQQ, PANW, WIX, LI, ZM, TCOM.
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