Dow futures jump nearly 200 points ahead of first trading day of May

Traders on the New York Stock Exchange

Source: NYSE

U.S. inventory futures moved larger in early morning trading on Monday as traders ready for the first trading day of May.

Dow futures rose 173 points. S&P 500 futures and Nasdaq 100 futures additionally each traded in optimistic territory.

Monday marks the first trading day of May. Despite Friday’s weak point in equities, the S&P 500 notched its third straight month of positive aspects in April, including greater than 5% to the index as traders guess on a giant financial and revenue restoration from the pandemic.

The S&P 500 is now up 11% for the yr. The benchmark closed at record levels on Thursday on the heels of blowout earnings outcomes from Apple and Facebook.

The Dow rose about 2.7% final month, whereas 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 funding officer at Cresset Capital instructed CNBC.

Investors may also be monitoring the following batch of company earnings. Lowe’s, Estee Lauder and ON Semiconductor report earlier than the bell on Monday.

Manufacturing PMI knowledge for April can be launched at 9:45 a.m. ET on Monday, adopted by ISM manufacturing at 10 a.m.

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