US pre-open: Futures higher following Dow's record close

20th May 2024 11:11

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday after the Dow Jones closed above the 40,000-point watermark for the first time in history.

As of 1300 BST, Dow Jones futures were up 0.05%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.16% and 0.25% firmer, respectively.

The Dow closed 134.21 points higher on Friday, giving the blue-chip index a new record close of 40,003.59 points.

Trade Nation's David Morrison said: "Friday saw a mixed close for US stock indices, with modest gains for the Dow and S&P 500, and minuscule losses for the NASDAQ 100 and Russell 2000. But it remained a milestone week with decent gains for all the US majors, and one which saw the Dow and the S&P 500 closing above 40,000 and 5,300, respectively."

Investors will be keyed on a number of artificial intelligence players this week, with Microsoft hosting its three-day Build event from Tuesday and Nvidia publishing its Q1 earnings on Wednesday.

Also in the corporate space, Palo Alto Networks, AutoZone, Target, Ralph Lauren, and Intuit will all report earnings throughout the course of the week.

On the macro front, Federal Reserve bankers Raphael Bostic, Michael Barr, Christopher Waller, and Philip Jefferson will all deliver speeches on Monday.

Still to come this week, minutes from the Federal Reserve's latest policy meeting were due on Wednesday.

Reporting by Iain Gilbert at Sharecast.com