Dow, S&P 500, Nasdaq futures rise with Wall Street looking to continue Dow 50,000 rally

U.S. stock futures edged higher on Sunday night as investors braced for a week of economic data and corporate earnings after a tumultuous period that saw the Dow Jones Industrial Average close above a record 50,000 points on Friday.

Futures tied to the S&P 500 (ES=F) rose 0.4%, while Nasdaq 100 futures (NQ=F) gained about 0.6%. Dow futures (YM=F) edged up 0.2%.

The Dow Jones Industrial Average (^DJI) soared more than 1,200 points, or 2.5%, on Friday, closing above 50,000 for the first time after briefly breaching the milestone during the session. The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) both rose about 2% as Wall Street recovered from a week of heavy losses caused by a sell-off led by technology stocks.

Software stocks bore the brunt last week, while broader risk aversion emerged as spending on artificial intelligence reached new highs. Amazon (AMZN), Google (GOOG), Meta (META) and Microsoft (MSFT) plan to spend a combined $650 billion in a development race with no clear leader.

The market’s recovery will begin with a week filled with key economic data, with the delayed January jobs report scheduled for release on Wednesday. The data was originally scheduled to be released last Friday but was delayed due to the partial government shutdown. ADP reported that the private sector added only 22,000 new jobs last month, down from 140,000 in the same period last year, so market expectations were low.

Also released is the consumer price index for January, which is due to be released on Friday after its release was delayed due to the government shutdown. On the earnings front, releases from Coca-Cola ( KO ), McDonald’s ( MCD ), Cisco ( CSCO ) and ON Semiconductor ( ON ) were the highlights of the week.

The reports will help shape expectations for the Fed’s future interest rate path as investors weigh how U.S. monetary policy will evolve if President Trump chooses to succeed Fed Chairman Jerome Powell, former Fed governor Kevin Warsh.

Although Warsh is widely seen as a policy hawk and served at the central bank during the 2008 financial crisis, his nomination triggered only a brief rally in the dollar, with the U.S. Dollar Index (DX-Y.NYB) down 10% since Trump took office.