Profit taking is likely to contribute to any early weakness on
Last week's gains lifted the Dow and the S&P 500 to new record highs, while the Nasdaq reached its best levels since 2000.
Worries about the outlook for interest rates may also weigh on the markets following last Thursday's much better than expected jobs data.
Nonetheless, trading activity may be somewhat subdued amid the absence of any major US economic reports on the day.
The economic calendar remains sparse throughout the week, although traders are likely to keep an eye on several speeches by Federal Reserve officials as well as the minute of the latest Fed meeting.
"These speeches are important because the Fed is going to have to do a better job of explaining to markets the math in their forecasts because they are falling further behind the reality of the data," said
He added, "
Additionally, aluminum giant
The release of results from
After moving moderately higher in early trading, stocks saw some further upside over the course of the abbreviated trading day on Thursday. The markets benefited from a positive reaction to better than expected employment data.
The major averages ended the day firmly in positive territory, with the Dow closing above 17,000 for the first time. The Dow rose 92.02 points or 0.5% to 17,068.26, the Nasdaq advanced 28.19 points or 0.6% to 4,485.93 and the S&P 500 climbed 10.82 points or 0.6% to 1,985.44.
For the week, the major averages all posted notable gains. The Nasdaq surged up by 2%, while the Dow and the S&P 500 jumped by 1.3% and 1.2%, respectively.
Most Popular Stories
- Americans Still Pessimistic Despite Economic Growth
- Cantwell Targets Gender Gap in Small-Business Loans
- Parra Joins Exclusive Club of Hispanic CEOs
- Apple to Unveil New Items on Sept. 9
- Axxis Solutions Appoints Benites as CEO
- Pending Home Sales in U.S. Rise in Hopeful Sign
- Visual Search Sounds Cool, Remains Elusive
- Texans Look for Perry-Cruz Showdown in 2016
- Josh Gordon Loses Appeal, Out for Season
- Chrysler Gets Nod as a Top Employer for Hispanic Women