The S&P 500 on Monday was looking to consolidate at its best level since August having rallied in recent sessions on the removal of U.S. debt default fears.
U.S. stock futures point to Wall Street holding near 10-month highs as expectations firm that the Federal Reserve will not raise interest rates this month.
How are stock-index futures trading On Friday, the Dow Jones Industrial Average DJIA rose 701 points, or 2.12%, to 33763, the S&P 500 SPX increased 61 points, or 1.45%, to 4282, and the Nasdaq Composite COMP gained 140 points, or 1.07%, to 13241. “Markets powered ahead at the end of the week, with investors reacting to both the avoidance of a U.S. debt default and a selectively positive non-farm payrolls report,” said Richard Hunter, head of markets at Interactive Investor.
The U.S. market’s jump to fresh highs for the year triggered a positive start to the week in Asia, where sentiment was also supported by news that China’s services sector grew by more than expected in May.
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