Wall Street stocks could aim at more records on Monday, with futures moving moderately higher as investors continue to take inspiration from last week's solid U.S. jobs data.
Dow Jones Industrial Average futures rose 32 points, or 0.2%, to 18,484, while S&P 500 futures gained 3.7 points to 2,180.25. Nasdaq-100 index added 11.75 points, or 0.3%, to 4,794.75.
A strong start to the week would pick up where Friday's record-breaking session left off. The S&P 500 index and Nasdaq Composite Index each nailed all-time closing highs, up 0.9% to 2,182.87 and up 1.1% to 5,221.12, respectively. It was the first closing record in more than a year for the Nasdaq.
The U.S. economy added 255,000 jobs in July. The reading blasted past analyst's expectations and breathed new life into stocks, even though that number may nudge the Federal Reserve toward a near-term interest-rate hike.
"The S&P500 and Dow Jones picked up a positive momentum; equity investors appeared comfortable with the idea of a tightening in the U.S.'s monetary conditions," said Ipek Ozkardeskaya, senior market analyst with London Capital Group, in a note.
Ozkardeskaya said if the U.S. economy continues to improve, the markets could give their blessing to an additional 25-basis-point hike by the end of the year. But she says the major challenge for the Fed is that major central banks around the world are easing.
"Hence, by simply maintaining the status quo, the Fed's policy path diverges from the rest of the world," she said.