US futures rose on Monday, following a rise in major indices to close at record highs last week.
Futures linked to the S&P 500 rose 0.4%, indicating an extension of last week’s off-earnings that sent the broad market index to its all-time high on Friday. Contracts linked to the Dow Jones Industrial Average rose 0.5%. Markets in the U.S. are closed Monday for Presidents’ Day holidays.
Stock markets have risen this year as investors expect additional stimulus spending and an economic recovery as vaccination programs are developed around the world. Democrats plan to continue work this week on President Biden’s $ 1.9 trillion coronavirus aid plan. World leaders are also due to jointly discuss the pandemic response at a virtual meeting of leaders of the Group of Seven Industrialized Nations on Friday.
Investors are focusing on “the fiscal stimulus, monetary stimulus, recovery and profits expected to arrive in 2021,” said Esty Dwek, head of global market strategy at Natixis Investment Managers.
Monday “will be a quieter day with more upward movements,” he added.