Stock futures rose modestly on Monday night, following a session that saw the Dow Jones Industrial Average and Russell 2000 close at all-time highs.
By 10:20 am AEDT (11:20 pm GMT) futures tied to the Dow added 0.1%, while S&P 500 and Nasdaq 100 futures gained 0.2%, respectively.
Corporate earnings dominated after-hours trading. Zoom shares dropped 4.1% despite third-quarter results and guidance slightly exceeding expectations.
Agilent Technologies fell 2% despite reporting stronger-than-expected fourth-quarter earnings, as its guidance for fiscal 2024 lagged estimates.
Monday’s regular trading session was bolstered by investor optimism surrounding President-elect Donald Trump’s selection of Scott Bessent as Treasury Secretary.
Bessent, a seasoned hedge fund manager and founder of Key Square Group, is perceived as a market-friendly choice who could temper Trump’s more aggressive trade policies.
The Dow surged over 440 points, or 1%, to close at a new record. The S&P 500 gained 0.3%, achieving a new intraday high, while the Nasdaq Composite rose 0.3%.
The small-cap Russell 2000 index also hit a new record, its first since 2021, as investors showed renewed interest in smaller companies.
Treasury yields declined as markets reacted positively to Bessent’s appointment. Investors lauded his experience, viewing him as a stabilising figure for financial markets and the broader economy.
Looking ahead, market activity is expected to be lighter due to the Thanksgiving holiday, with U.S. markets closed on Thursday and operating on reduced hours Friday.