Market Overview
Dow Jones Industrial Average futures YM00, -0.22% fell 75 points, or 0.2%, to 39067. S&P 500 futures ES00, -0.13% dropped 2 points, or 0%, to 5144. Nasdaq-100 futures NQ00, -0.03% increased 26 points, or 0.1%, to 18364.
Last Week’s Performance
On Friday, the Dow Jones Industrial Average DJIA rose 91 points, or 0.23%, to 39087, the S&P 500 SPX increased 41 points, or 0.8%, to 5137, and the Nasdaq Composite COMP gained 183 points, or 1.14%, to 16275, with both the S&P 500 and the Nasdaq Composite ending at a record.
The S&P 500 rose 1% last week and has gained 8% this year.
What’s Driving Markets
Fed Chair Jerome Powell will be on Capitol Hill this week for two days of Congressional testimony, as the nonfarm payrolls report gets released on Friday.
Bank of America became the latest Wall Street firm to lift its price target, now seeing a year-end level of 5,400 for the S&P 500. The increase was accompanied by a warning that the likelihood of a near-term pullback is high.
Bitcoin BTCUSD, +3.40% surged past $65,000 and the Nikkei 225 JP:NIK zoomed past 40,000, while gold GC00, -0.10% drifted lower after ending Friday at a record high.