U.S. stock futures trekked higher on Monday, with the Dow industrials likely to open at a fresh record and hard-hit technology stocks eyeing a rebound.
The indicated U.S. gains track strength across global equities, as European and Asian stocks move higher.
Dow Jones Industrial Average futures YMU7, +0.31% rose 76 points, or 0.4%, to 21,409, while S&P 500 futures ESU7, +0.26% added 7.75 points, or 0.3%, to 2,438.75. Nasdaq 100 futures NQU7, +0.62% shot up 39.5 points, or 0.7%, to 5,723.50.
While futures are not always an exact indication of market moves, their gain bolsters expectations that the Dow industrials DJIA, +0.11% will open above the all-time closing high of 21,384.28 hit Friday, the 21st record for 2017.
The S&P 500 index SPX, +0.03% finished less than a point higher Friday and flat for the week.
On Friday, the Nasdaq Composite COMP, -0.22% fell 0.2% , extending a a rough patch for the tech sector. A bounce for tech stocks at the open Monday would follow a second-straight weekly loss. Leading the way higher on Monday, shares of Apple Inc. AAPL, -1.40% and Amazon.com Inc. AMZN, +2.44% were up around 1% in thin premarket trading.
Investors are likely to keep tech stocks in focus this week, amid concerns the sector could start to drag down the broader market, given the Federal Reserve has indicated it will tighten policy and economic data has failed to inspire.
Economic docket: New York Fed President William Dudley is scheduled to speak at a business roundtable in Plattsburgh, New York, at 8 a.m. Eastern Time. Later in the day, Chicago Fed President Charles Evans is slated to give a speech to the Money Marketeers of New York University at 7 p.m. Eastern.
There are no top-tier economic data on the calendar for Monday.
Stocks to watch: Shares of Boeing Co. BA, +0.51% could be active after the aircraft maker said it has signed a memorandum of understanding with BOC Aviation Ltd. 2588, +0.00% for 10 737 MAX 10 airplanes at the 2017 Paris Air Show on Monday.
Europe inspires: While Asian stocks kicked the week off higher, even more robust gains were seen for European stocks on Monday. The French CAC 40 index PX1, +0.82% rose 1% after French President Emmanuel Macron’s pro-Europe Union party and its centrist ally saw a decisive victory in parliamentary elections. The Stoxx Europe 600 SXXP, +0.56% was up about 0.7%.
The FTSE 100 index UKX, +0.47% added 0.6%. U.K. officials will be meeting with their Brussels counterparts on Monday to start talks over Britain leaving the European Union. Meanwhile, in what police are calling a terrorist attack, a van rammed into a crowd near a mosque in North London, leaving one person dead and several injured.
Other markets: Oil prices CLN7, +0.29% were flat, while the dollar DXY, +0.05% held steady. The pound GBPUSD, +0.1722% firmed up ahead of those Brexit talks. Gold prices GCQ7, -0.31% slipped $4 to $1,252.50 an ounce.