Stock futures were calm on Sunday evening as Wall Street looks to keep the momentum from Friday’s rally.
S&P 500 futures added 0.1%. Nasdaq 100 futures were up roughly 0.2%, while Dow Jones Industrial Average futures ticked up 53 points, or about 0.1%.
The move in futures comes after a bumpy week for stocks that saw the major averages grind out modest gains. The S&P 500 added 0.22% for the week, while the Nasdaq Composite inched up 0.10% and the Dow added 0.09%.
It was the fourth winning week in a row for all three averages, helped by a stronger-than-expected jobs report on Friday that gave more support to the idea that the Federal Reserve may pull off a “soft landing” for the U.S. economy. The Dow closed at a record high after the report.
“Two old adages on Wall Street: don’t fight the trend and don’t fight the Federal Reserve. … These remain among two key pillars for today’s equity market,” Truist Wealth co-chief investment officer Keith Lerner said in a note Friday.
However, Lerner did caution that the looming U.S. presidential election and the potential for so-called “October surprise” could keep market volatility elevated in the coming weeks.
Investors will keep an eye on the international news this week, with tensions still high in the Middle East.
On the economic front, key releases in the week ahead include the Federal Reserve meeting minutes on Wednesday and the consumer price index report on Thursday. Earnings season also starts to heat up, with results from Delta Air Lines and JPMorgan Chase due out Thursday and Friday, respectively.
