S&P 500 futures solid after index tops 5,000 for a initial time

U.S. batch futures on Monday hold their belligerent after a SP 500 finally sealed above a 5,000 symbol in a 10th record finish for 2024.

What’s happening

  • Dow Jones Industrial Average futures

    fell 31 points, or 0.1%, to 38.,717.

  • SP 500 futures

    were unvaried during 5,044.

  • Nasdaq-100 futures

    edged adult 4.75 points, or reduction than 0.1%, during 18,044.

The SP 500
rose 1.4% final week, finale Friday above a 5,000 threshold for a initial time. The Dow
eked out a weekly benefit of reduction than 0.1%, while a Nasdaq Composite
jumped 2.3%.

See: SP 500 reaches 5,000 for initial time. Here’s what it means for a market.

What’s pushing markets

Two-thirds by fourth-quarter gain season, 76% of companies have beaten bottom-line estimates, analysts during Jefferies said.

“Though we spend copiousness of time thinking, examining and charting indicators of sentiment, flows, opening and mercantile health, a existence is that gain revisions unequivocally do a best pursuit of discovering what instruction bonds are approaching to go in. And that leads us to dwindle that it’s substantially fundamentals, some-more than anything else, that are perpetuating a convene that started late final year,” pronounced Andrew Greenbaum, comparison clamp boss of equity product government during Jefferies.

Tuesday’s recover of consumer-price-index information could derail those fundamentals.

“The Fed continues to demeanour brazen to rate cuts to equivalent an approaching tightening of financial conditions as acceleration earnings to 2%, though a timing and bulk stays fugitive given a strength of a economy and slow doubt over a trail of inflation,” pronounced Tim Duy, arch U.S. economist during SGH Macro Advisors.

Read: What investors stashing $6.5 trillion divided in money should do as Fed pushes behind on rate-cut expectations

Companies in focus

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