New York Stock Exchange traders
US stock futures rose overnight on Sunday as investors prepared for the first trading day in May.
Dow futures rose 75 points. S&P 500 futures gained 0.27% and Nasdaq 100 futures rose 0.22%.
Monday marks the first trading day in May. Despite the weakness of shares on Friday, the S&P 500 achieved its third consecutive growth in April, adding more than 5% to the index, as investors are betting on a major economic recovery and recovery of profits from the pandemic.
The S&P 500 is now up 1
The Dow rose about 2.7 percent last month, while the Nasdaq Composite gained 5.4 percent in April.
“Investors are preparing for another busy week of profits, ending with a widely monitored job report. Given the positive news about the economy and profits, the path of least resistance seems higher,” Jack Ablin, chief investment officer at Cresset Capital, told CNBC.
Investors will also monitor the next batch of corporate profits. Lowe, Estee Lauder and ON Semiconductor reports before Monday’s bell.
Production PMI data for April will be released at 9:45 a.m. ET on Monday, followed by ISM production at 10 a.m.
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