U.S. stock futures rose on Sunday night as traders were set to end the market's best August performance since the 1980s.
Dow Jones Industrial Average futures were up 60 points, or 0.2%. S&P 500 and Nasdaq 100 futures gained 0.1% each.
This month's gains have pushed the S&P 500 to record levels, officially confirming a new bull market has started. The Dow, meanwhile, erased its 2020 losses on Friday, closing the session with a year-to-date gain 0.4%. We "had hoped that the market would consolidate its gains since March 23, giving earnings a chance to rebound," said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note. "However, Fed officials continue to drive up stock prices by committing to keeping interest rates close to zero for a very long time … Consequently, they are fueling the meltup in stock prices.
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