U.S. stocks looks set to kick off the week on an upbeat note on Monday, continuing Friday’s payrolls-fueled rally.
Traders appeared to shrug off global trade tensions in early premarket action.
What are markets doing?
Futures for the Dow Jones Industrial Average YMM8, +0.56% climbed 134 points, or 0.5%, to 24,763, while those for the S&P 500 index ESM8, +0.36% rose 10.95 points, or 0.4%, to 2,744.75. Futures for the Nasdaq-100 index NQM8, +0.45% gained 34.25 points, or 0.5%, to 7,117.25.
The gains come on the heels of a strong session on Friday when the Dow DJIA, +0.90% finished 0.9% higher, the Nasdaq Composite Index COMP, +1.51% rose 1.5% and the S&P 500 SPX, +1.08% booked a 1.1% gain.
What is driving the market?
Investors continued to cheer a round of solid U.S. jobs data out on Friday, which showed the world’s largest economy in better economic health than expected. That helped spur a move back into riskier assets such as stocks, after political upheaval in Italy earlier last week sparked a flight into havens such as bonds.
The optimism over the American data also helped overshadow lingering concerns over global trade on Monday. A round of trade talks between the U.S. and China broke down over the weekend with no agreement, indicating a full-on trade war between the world’s two largest economies could be imminent.
Meanwhile, finance ministers from Canada, France, Germany, Italy, Japan and the U.K. at a G7 meeting on Saturday issued a rare rebuke to the U.S., expressing their “unanimous concern and disappointment” about President Donald Trump’s decision to place tariffs on metals imports from his major allies.
Tariffs and trade are also likely to feature highly on the agenda when leaders of the