US pre-open: Futures higher ahead of holiday-shortened week
By Iain Gilbert
Date: Monday 25 Nov 2024
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday as traders braced for a holiday-shortened trading week.
As of 1230 GMT, Dow Jones futures were up 0.68%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.51% and 0.54% firmer, respectively.
The Dow closed 426.16 points higher on Friday as the blue-chip index wrapped up another winning week with solid gains.
Futures traded higher as sentiment got a boost from news that president-elect Donald Trump has tapped hedge fund manager Scott Bessent to take over as Treasury secretary, in line with the view that the new administration will zero in on boosting economic growth and cutting costs. The yield on the benchmark 10-year Treasury note fell more than five basis points to 4.59%, while its two-year counterpart was almost three basis points lower at 4.358%.
US markets will be closed on Thursday in celebration of Thanksgiving and will shut up shop early on Friday
On the macro front, the Chicago Federal Reserve's October national activity index will be published at 1330 GMT, while the Dallas Federal Reserve's November manufacturing business index will follow at 1530 GMT.
In the corporate space, Macy's, Nordstrom, Best Buy, and Dell Technologies will all report earnings before the week is out.
Reporting by Iain Gilbert at Sharecast.com
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