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U.S. stock futures were edging higher to start the week, extending some early gains to start the year. It’s a welcome relief after St. Nick decided not to visit the stock market.
Futures for the Dow Jones Industrial Average added 51 points, or 0.1%. Contracts tied to the S&P 500 were up 0.4%, while futures tracking the tech-heavy Nasdaq 100 rose 0.6%.
The rebound follows a disappointing spell after the Christmas holiday–the proverbial Santa Claus Rally, defined as the five trading days after Christmas and the first two of the new year–didn’t happen this time around. The S&P fell 0.5% in the period. However, coming into the session, the index has added 1% in 2025 so far.
“Markets have had a fairly rough time since Christmas,” said Deutsche Bank strategist Henry Allen. “However, we did start to see a recovery on Friday, with the S&P 500 snapping a run of 5 consecutive daily declines.”
The week ahead will provide some important economic data, including the monthly jobs report on Friday. A report on Friday showed U.S. manufacturing had strengthened to a nine-month high, which helped to give markets a boost. Separately, the Canadian dollar was higher after reports that Prime Minister Justin Trudeau could announce his resignation as soon as today.
Bond yields were rising early in the day. The yield on the 10-year U.S. Treasury note was at 4.629%, compared with about 4.56% Friday. The 2-year note yielded 4.291%, also slightly higher since the end of last week.
