U.S. stock futures on Monday pointed to a step higher at the open, as the main market benchmarks aimed to build on Friday’s big rally.
S&P 500 futures rose 3.85 points, or 0.2%, to 2,092.25, while Dow Jones Industrial AverageÂ tacked on 23 points, or 0.1%, to 17,842. Nasdaq 100 futuresÂ added 10.75 points, or 0.2%, to 4,724.
The S&P is going through a “period of backing-and filling” as it’s had a “loss of short-term momentum since October’s impressive upmove,” said Kati Stockton, chief technical strategist at BTIG, in a note Sunday.
“Resistance remains intact at the all-time high near 2135,” she said, but added that “a breakout to new highs is attainable in the weeks ahead as positive seasonal forces take hold.”
On Friday, the S&P surged about 2%, while the DowÂ jumped 370 points, marking their biggest one-day gains in nearly three months, following a strong November U.S. jobs report. The two indexes scored weekly gains of 0.1% and 0.3%, respectively. The S&P is up 1.6% for the year, while the Dow is 0.1% higher in 2015.
Source : Marketwatch