Futures contracts tied to the major U.S. stock indexes ticked lower during early morning trade on Monday, suggesting Wall Street could see muted trading on Monday after reaching fresh records last week.
The movement in the futures market followed yet another record close for the Dow Jones Industrial Average on Friday, when it gained nearly 300 points to end at 33,800.6. The S&P 500 gained 0.8% and hit its third straight record close.
Stocks linked to the recovering economy led many of last week’s gains as vaccinations efforts throughout the U.S. accelerated. Both the Dow and the S&P 500 climbed at least 2% last week. The Nasdaq rallied 3.1% over the same period as some traders snapped up big tech names.