14K On Dow, 1,510 on S&P, What’s Next?!
Futures are taking a break Monday morning following a strong Friday run that culminated in a new five year high. Unlike last week, the data is light this week, with a lack of catalysts that could drive the market past current levels. We will see earnings season continue, with 90 of the S&P 500 reporting including blue chipper Walt Disney Co. (DIS). Futures on the Dow Jones Industrial Average rose 5 points to 13,935, while S&P 500 Index futures slipped 0.4 point to 1,506.30.Nasdaq 100 futures rose 0.75 point to 2,757.25.
Positive economic news from employment, to manufacturing and consumer sentiment sent Wall STreet soaring on Friday, with the blue chips closing above the elusive 14K mark. The Dow Jones Industrial Average rose 149.21 points, or 1.1%, to 14,009.79. The S&P 500 index gained 15.06 points, or 1%, to 1,513.17, with telecommunications leading the gains among its 10 major industry groups.The Nasdaq Composite added 36.97 points, or 1.2%, to 3,179.09. Not a shabby start to the month at all!
Factory Orders: Represent the dollar level of new orders for both durable and nondurable goods. The consensus is for a 2.4% increase in the month of December. Factory orders were unchanged in November following the steepest decline since June in non-durable orders. The consensus range goes as high as 2.9% and a low of -0.3%.