"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 - Get Report) 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 - Get Report) 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 - Get Report) 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%.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts