U.S. stock futures soared on Monday, after the top indices climbed to record highs last week.
Futures contracts linked to the S&P 500 were up 0.4%, signaling an extension of last week’s silent gains, which sent the broad market index to a historic high on Friday. Contracts linked to the Dow Jones Industrial Average advanced 0.5%. US markets are closed on Monday for President’s Day holiday
Stock markets have soared this year as investors anticipate additional stimulus spending and an economic recovery as vaccination programs are launched around the world. Democrats plan to continue this week with work related to President Biden’s $ 1.9 trillion coronavirus aid plan. World leaders are also expected to discuss the response to the pandemic together at a virtual meeting of leaders of the Group of Seven industrialized countries on Friday.
Investors are focused on “fiscal stimulus, monetary stimulus, recovery and profits that are expected in 2021,” said Esty Dwek, head of global market strategy at Natixis Investment Managers.
Monday “is going to be a calmer day, with more of the same, more upward movements,” she added.