U.S. stock futures moved higher in overnight trading on Sunday as investors readied for the first trading day of May.
Dow futures rose about 125 points. S&P 500 futures gained 0.45% and Nasdaq 100 futures rose 0.33%.
Monday marks the first trading day of May. Despite Friday’s weakness in equities, the S&P 500 notched its third straight month of gains in April, adding more than 5% to the index as investors bet on a big economic and profit recovery from the pandemic.
The S&P 500 is now up 11% for the year. The benchmark closed at record levels on Thursday on the heels of blowout earnings results from Apple and Facebook.
The Dow rose about 2.7% last month, while the Nasdaq Composite gained 5.4% in April.
“Investors are gearing up for another busy earnings week capped off with a widely watched jobs report. Given the positive economic and earnings news, the path of least resistance appears higher,” Jack Ablin, chief investment officer at Cresset Capital told CNBC.