Stock futures rise slightly ahead of the first trading day in May

Stock futures rise slightly ahead of the first trading day in May

New York Stock Exchange Traders

Source: NYSE

U.S. equity futures rose in overnight trading on Sunday as investors braced for the first day of trading in May.

Dow futures rose 75 points. S&P 500 futures were up 0.27% and Nasdaq 100 futures were up 0.22%.

Monday marks the first trading day in May. Despite stock weakness on Friday, the S&P 500 entered its third straight month of gains in April, adding more than 5% to the index as investors bet on a strong economic recovery and profits from the pandemic.

The S&P 500 is now up 11% for the year. The benchmark closed at record highs on Thursday in the wake of explosive results from Apple and Facebook.

The Dow Jones rose about 2.7% last month, while the Nasdaq Composite gained 5.4% in April.

Investors will also follow the next batch of corporate earnings. Lowe’s, Estee Lauder and ON Semiconductor report ahead of the bell Monday.

Manufacturing PMI data for April will be released at 9:45 a.m. ET on Monday, followed by ISM manufacturing at 10 a.m.

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