U.S. stock futures rose moderately Monday, suggesting the equity market could rally following last week’s pullback.
What are the main benchmarks doing?
Dow Jones Industrial Average futures YMU8, +0.33% tacked on 86 points, or 0.3%, to 26,045, while S&P 500 futures ESU8, +0.33% gained 9.80 points, or 0.3%, to 2,884.50. Nasdaq-100 futures NQU8, +0.50% advanced by 36.75 points, or 0.5%, to 7,475.25.
On Friday, the Dow DJIA, -0.31% , S&P 500 SPX, -0.22% and Nasdaq Composite COMP, -0.25% finished lower for the session and notched weekly losses, with the S&P and Nasdaq shedding 1% and 2.6%, respectively.
The three gauges are showing year-to-date gains ranging from 4.8% to 14%.
What’s driving markets?
Trade tensions between the U.S. and its partners have put pressure on global markets in recent months, though for American equities that has been offset by strong readings on the U.S. economy.
A concern as the week kicks off is President Donald Trump’s tweet over the weekend urging Apple Inc. AAPL, -0.81% to move its manufacturing to the U.S., a comment that helped put some pressure on Asian tech stocks.
What are strategists saying?
“U.S. markets look set for a modest rebound on the open after last week’s selloff, despite the ratcheting up of trade tensions by the President Trump over the weekend,” said Michael Hewson, chief market analyst, at CMC Markets UK in a note.
Which stocks are in focus?
Shares in Apple were roughly flat premarket in the wake of Trump’s comments on shifting factories.
Shares in Alibaba Group Holding Ltd. BABA, +1.56% fell 1% in premarket action following news that tycoon Jack Ma said he would step down as executive chairman of the Chinese e-commerce giant in a year.
CBS Corp.’s stock CBS, +2.98% is likely to be in focus after Les Moonves, the longtime chairman and CEO, resigned Sunday following new sexual misconduct allegations against him from six additional women.
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