U.S. stock futures ticked higher Sunday night after the Dow Jones Industrial Average and S&P 500 notched their best weekly win streaks of 2024.
Dow Jones Industrial Average futures rose by 44 points, or 0.1%.
S&P 500 futures and Nasdaq 100 futures climbed 0.13% and 0.16%, respectively.
Roughly one-fifth of S&P 500 companies are set to report through Friday.
Of the 14% of S&P 500 companies that have already posted third-quarter results, 79% have beaten expectations, according to FactSet’s John Butters.
U. S. . After the SandP 500 and Dow Jones Industrial Average recorded their best weekly winning streaks of 2024, stock futures slightly increased on Sunday night.
The futures for the Dow Jones Industrial Average increased 44 points, or 0.1 percent. Futures on the S&P 500 and Nasdaq 100 increased by 0 points 13 and 16 percent, respectively.
Following the S&P 500 and 30-stock Dow setting all-time highs on Friday, the actions follow a sixth consecutive weekly gain that is the best for both benchmarks this year. While the Dow closed up 0 points 96% for the week, the S&P 500 ended the week up 0 points 85%. 0 to 80 percent was the increase in the Nasdaq Composite.
If businesses can exceed expectations this earnings season, which is expected to pick up speed this week, stocks may be able to maintain those gains. Through Friday, about one-fifth of the S&P 500 companies are expected to report.
The outcomes thus far have been inconsistent. 79 percent of the 14 percent of S&P 500 companies that have already released their third-quarter results have exceeded expectations, according to John Butters of FactSet. But, he pointed out, the intensity of those beats has been more mediocre.
Due to the recent winning streak, investors are hopeful that stocks will continue to rise. They are aware of the stretched valuations, though, before the U. A. More choppiness may also result from the presidential election and growing geopolitical risks.
Sam Stovall, chief investment strategist at CFRA Research, stated, “We may see a digestion of gains come fairly soon if we’re not really getting the kind of confirmation that the market is worth this elevated price, you know.”.
In other news, Monday at 10 a.m. is the release of the September leading indicators for the economy. A. ET. .
