Futures for US stocks rose on Monday, following the rise in major indices to close at all-time highs last week.
S&P 500 futures rose 0.4%, indicating an extension of last week’s subdued gains that sent the broad market index to an all-time high on Friday. Contracts tied to the Dow Jones Industrial Average advanced 0.5%. Markets in the US are closed on Mondays for the Presidents’ Day holiday.
Stock markets have risen this year as investors expect additional stimulus spending and an economic recovery as vaccination programs are rolled out around the world. Democrats plan to continue work this week on President Biden’s $ 1.9 trillion coronavirus relief plan. World leaders are also set to jointly discuss the response to the pandemic at a virtual meeting of leaders of the Group of Seven industrialized countries on Friday.
Investors are focused on “the fiscal stimulus, monetary stimulus, recovery and gains that are expected to come in 2021,” said Esty Dwek, head of global market strategy at Natixis Investment Managers.
Monday “will be a calmer day with more of the same, more upward movements,” he added.