U.S. futures rose on Monday, thereby extending the record high achieved by the S&P 500 on Friday. The benchmark index surpassed its previous closing high of 4,796.56, thereby surging 35% since hitting a low point in October 2022.
S&P 500 futures rose 0.3% on Monday morning, while those on the Nasdaq 100 advanced by 0.6%. Contracts listed on the Dow Jones Industrial Average posted a 0.2% gain. Across the pond, the Stoxx Europe 600 rose by 0.8% while the MSCI Asia Pacific Index edged 0.1% higher.
“We are heading into an environment where the economic slowdown seems to be more of a soft landing, at the same time we are talking about rate cuts,” Jun Bei Liu, a fund manager at Tribeca Investment Partners observed, suggesting that developments for equities are positive. Investors remain confident that the Federal Reserve will soon introduce interest rate cuts, even if later than initially hoped.