Stock Market Today: Live Updates

U.S. stock futures rose Sunday evening, after the Dow Jones Industrial Average closed above the key 40,000 level for the first time on Friday.

Futures tied to the 30-stock index rose less than 0.1%. S&P 500 and Nasdaq 100 futures were also slightly higher.

The Dow hit the 40,000 level for the first time during Thursday’s trading session, but closed above the threshold for the first time a day later when it added 134.21 points, or 0.3%, to end Friday at 40,003.59. The S&P 500 edged up 0.1% on Friday, while the Nasdaq Composite fell less than 0.1%.

This market rally is expected to continue at least in the short term, according to Tom Lee, head of research at Fundstrat Global Advisors.

“As we stated earlier this month, we expected markets to move from ‘May Fear’ to May Buying; and with each passing week, that has been the case. Looking at next week, we expect this to continue,” he said. wrote in an email.

Artificial intelligence names are expected to steal the spotlight next week, with Lee highlighting several potential catalysts, including the Microsoft Build event from Tuesday to Thursday and Nvidia’s first-quarter financial results, due Wednesday afternoon.

“Overall, we expect these events/benefits to drive increased visibility and capabilities of AI and associated spending. And therefore, it will be overall positive for tech stocks and the market as a whole “added the analyst.

Palo Alto Networks, AutoZone, Target, Analog Devices, Intuit and Ralph Lauren will report their results in the coming days. Minutes from the Federal Reserve’s April 30-May 1 meeting are expected Wednesday. Investors will also be watching the latest readings of several economic data, including existing home sales, jobless claims and durable goods orders.