This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Futures Point to Cautious After Stocks Hit Record Levels

Stocks in this article: ^DJI ^GSPC ^IXIC CLF TSN BRK.B

NEW YORK ( TheStreet) -- S&P 500 futures were little changed Monday after the index surged past 1,600 for the first time Friday.

"Investors continue to be bullish as major U.S. indices breached psychological barriers (S&P 500 1600 and DJIA 15000)," Lee Chen Hoay, an investment analyst at Phillip Futures in Singapore, penned in a note."With little upcoming economic data for this week, market is likely to pay attention to the opinion of U.S. officials at Federal Reserve on the recovery and bond buying."

From Wednesday to Friday, a number of Fed officials will be speaking, including Jeremy Stein, Jeffrey Lacker and Esther George.

Futures for the S&P 500 were unchanged, or 1.12 points below fair value, to 1,608.5 after the index achieved record levels Friday as job growth in April eased concern that the world's largest economy was unable to translate corporate profits into lower unemployment.

Futures for the Dow Jones Industrial Average were rising 3 points, or 133.42 points above fair value, to 14,901 after the index on Friday broke past 15,000, a record intra-day high.

Futures for the Nasdaq were up 5.5 points, or 36.56 points above fair value, to 2,940.5.

Cliffs Natural Resources (CLF) was popping 3.97% to $20.70 after FBR Capital analyst Mitesh Thakkar raised his view on the mining stock to outperform from market perform with a price target of $28 after meetings with management left him more confident about Cliffs' ability to endure soft iron ore prices.

Tyson Foods (TSN) was stumbling 5.74% to $23.50 after the meat processing company posted a sharp decline in earnings in the second quarter, hit by consumers replacing beef with chicken products as they tightened spending.

Warren Buffett's Berkshire Hathaway (BRK.B) was gaining more than 2% to $111 after posting first-quarter profit on Friday of $4.89 billion, or $2,977 a class A share, up 51% from $3.25 billion a year earlier.

Buffett is expected Monday to do a number of TV interviews following Berkshire Hathaway's shareholders' meeting over the weekend.

The U.S. economic calendar is empty Monday.

The Hong Kong Hang Seng Index closed up 0.99% Monday. The DAX in Germany was down 0.09%.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,884.62 +79.82 0.45%
S&P 500 2,070.12 -0.53 -0.03%
NASDAQ 4,766.1190 +0.7390 0.02%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs