Stock futures were flat in overnight trading on Monday after a strong start in May as investors took in the stocks that would benefit most from the economic reopening.
Futures on the Dow Jones Industrial Average were little changed, the S&P 500 futures and Nasdaq 100 futures were also flat.
Futures movement follows the Dow’s steady rise during normal trading hours. Benchmark 30 stocks were up more than 200 points, while the S&P 500 gained 0.3 percent.Retail stocks led the market ahead of time with more than 7 percent of Gap and Macy̵7;s funding, Dillard up nearly 10 percent, while Urban Outfitters and Kohl’s. Both of them received more than 5%.
“The buying activity taking place within the Boeing and Delta industry sees heavy trading activity as investors may take advantage of the slump in prices and banking from the reopening,” said Chris Larkin, managing director of E-Commerce and Investment. -Trade Financial
States continue to relax epidemic restrictions amid the introduction of the vaccine. New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted in New York, New Jersey and Connecticut, while the 24-hour subway service will resume services in New York City later this month.
Florida Gov. Ron DeSantis signed an executive order on Monday that immediately suspended the state’s remaining health restrictions.
The Dow and S&P 500 just announced profits for several months, raising more than 11% in 2021 profits.
“Many of the factors driving the market are still ongoing, including vaccine optimism, economic reopening and earnings acceleration, although inflation and valuation issues persist,” said Mark Hackett, head of research, research and development. Investing of the Nation
Warren Buffett said Saturday he was seeing “High inflation” among Berkshire Hathaway businesses amidst economic recovery
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