US stock futures rose slightly on Monday evening after the stock market started the week with a bounce-back session.
Futures contracts linked to the Dow Jones Industrial Average rose 105 points, or 0.4%. Those for the S&P 500 and Nasdaq 100 rose 0.4% and 0.6%, respectively.
The futures move follows a broad gain for the market on Monday, with the Dow rising nearly 230 points and all 11 sectors of the S&P 500 rising. The stock market had its worst week since October.
The positive day for stocks came despite another volatile day in parts of the market that were the focus of retailers. GameStop stocks, which were freshly up 400% last week, were down 30% on Monday and continued to decline during after-close trading. Silver also rose after traders increased their talk late last week and over the weekend.
Investors, including industry leaders Pfizer and ExxonMobil, will face a slew of gains on Tuesday. The technology giants Amazon and Alphabet will report after the market closes.
The market even seems to be shaking off some of the stronger quarterly reports this season of earnings, and Lindsey Bell, Ally Invest’s chief investment strategist, told Closing Bell that these moves could mean the good news was priced into stocks after a strong closing price 2020 for stocks.
“While these reports were not only good, but better than expected, and you’d like the stocks to move a little higher, it’s almost understandable that they weren’t,” Bell said.
Investors will also be watching the stimulus talks in Washington, where Republicans in Congress on Sunday made a counteroffer against President Joe Biden’s $ 1.9 trillion stimulus plan.
Biden met with these lawmakers on Monday when Congress Democrats passed a reconciliation law without bipartisan support. White House press secretary Jen Psaki described the meeting as “substantive and productive”.