Market Snapshot: Dow futures up 100 points as stocks get ready to build on last week’s gains

Market Snapshot: Dow futures up 100 points as stocks get ready to build on last week’s gains

Dow futures climbed roughly 100 points on Monday, keying off a global rally for stocks as investors took a break from trade-focused worries and remained encouraged by last week’s upbeat U.S. jobs report.

What are the main benchmarks doing?

Dow Jones Industrial Average futures YMU8, +0.45% rose 98 points, or 0.4%, to 24,554, while S&P 500 futures ESU8, +0.38% gained 8.85 points, or 0.3%, to 2,771.75. Nasdaq-100 futures NQU8, +0.40% tacked on 24.75 points, or 0.3%, to 7,258.25.

On Friday, the Dow DJIA, +0.41% , S&P SPX, +0.85% and Nasdaq Composite COMP, +1.34% all closed higher and notched weekly gains.

The Dow is down by 1.1% for the year, while the S&P and tech-heavy Nasdaq have advanced 3.2% and 11%.

What’s driving markets?

On Friday, June data on nonfarm payrolls came in stronger than expected, while May and April jobs figures were also revised higher.

Monday’s gains for U.S. stock futures followed rallies in Asia, where China’s Shanghai Composite SHCOMP, +2.47% rose 2.5%, cutting its July loss to 1.1% and reducing its 2018 drop to 15%.

What are other markets doing?

European stocks SXXP, +0.62% were advancing, while the ICE U.S. Dollar Index DXY, -0.16% dipped.

Gold futures GCQ8, +0.66% moved up, as U.S. oil futures CLQ8, -0.14% lost ground.

Which economic reports are on tap?

June reports on manufacturing from Markit and ISM are slated to hit at 9:45 a.m. Eastern Time and 10 a.m. Eastern, respectively. Economists polled by MarketWatch forecast a reading of 58.3% for ISM’s manufacturing index.

Also at 10 a.m. Eastern, investors are set to get a May release on construction spending, with economists expecting no growth.

Check out: MarketWatch’s Economic Calendar

On the Federal Reserve front, no officials are scheduled to give speeches Monday.