US stock futures are rallying ahead of Tuesday’s opening bell, following a record close for the S&P 500 in the prior session.
At 7:59 a.m. ET, Dow futures are up 78 points (0.43%), S&P 500 futures are up 10 points (0.48%) and Nasdaq futures are up 24 points (0.55%.)
The benchmark index rose to an all-time intra-day high shortly after the market open on Monday, and ended the session at 2,137.16, topping the old record made in May 2015. The Nasdaq closed at its best level of the year.
The Dow is still about 0.5% from its record closing high of 18,312.39 also reached in May 2015.
Stocks jumped towards new highs on Friday after the June jobs report showed that the pace of job creation was much better than economists had forecast. This was reassuring amid concerns of a hiring slowdown in the US economy.
Several Federal Reserve officials will punctuate the market-news flow today. Daniel Tarullo speaks at 9:15 a.m. ET in Washington, followed by the St. Louis Fed’s James Bullard at 9:35 a.m. Minneapolis Fed President Neil Kashkari will hold a town hall meeting after the closing bell.
In economic data, the NFIB Small Business Optimism index was 94.5 in June, better than forecast. Job openings and capital spending increased, but were still historically low for a period outside recession. The political climate made business owners reluctant to expand.
At 10 a.m. ET, we’ll get the Job Openings and Labour Turnover Survey (JOLTS) for May. Economists forecast that there were 5.65 million job openings during the month, down from a record high of 5.788 million, according to Bloomberg.
Alcoa kicked off second-quarter earnings season on Monday with a beat on profits and revenues. Its shares rose nearly 4% premarket.