Traders work on the New York Stock Exchange trading floor during early trading on May 17, 2024 in New York City.
Angela Weiss | AFP | Getty Images
U.S. stock futures were slightly higher Sunday night. Dow Jones Industrial Average It closed above the 40,000 key level for the first time on Friday.
Futures linked to 30 stock indexes The increase was less than 0.1%. S&P 500 Index Futures and Nasdaq 100 Futures Also slightly higher.
The Dow hit the 40,000 mark for the first time during Thursday’s trading session, but closed above it for the first time a day later, ending Friday’s session up 134.21 points, or 0.3%, at 40,003.59.this S&P 500 Index It edged up 0.1% on Friday, while Nasdaq Index It fell less than 0.1%.
Tom Lee, head of research at Fundstrat Global Advisors, said the market rally should continue at least in the short term.
“As we said earlier this month, we expect the market to shift from ‘May Fear’ to May Buy; and each week that passes, this is the case. Looking ahead to next week, we expect this to continue,” he wrote in an email.
Artificial intelligence names will be in the spotlight next week, and Lee highlighted several potential catalysts, including Microsoft build event Tuesday through Thursday, Nvidia will release fiscal first-quarter results on Wednesday afternoon.
“Overall, we expect these events/earnings to enhance the visibility and capabilities of AI and related spending. As a result, this will have an overall positive impact on technology stocks and the broader market,” the analysts added.
Palo Alto Networks, automatic zone, Target, analog devices corp., Intuit and ralph lauren Their results will be released in the coming days. Minutes of the Federal Reserve’s meeting from April 30 to May 1 will be released on Wednesday. Investors will also be watching for the latest economic data on existing home sales, jobless claims and durable goods orders.
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