U.S. stock futures ticked higher Monday, signaling that the S&P 500 may edge toward a record high amid lackluster trading during the summer vacation period. Futures tied to the S&P 500 ticked up 0.3%, pointing to tepid gains after the opening bell. The broad index has risen for three consecutive weeks and ended Friday a hair’s breadth below its record closing high from February, shortly before the pandemic ravaged financial markets. A burst upward by so-called cyclical stocks in the energy and financial sectors, which are sensitive to investors’ perception of the U.S. economy, has powered the latest leg of the market’s recovery from its March lows. “It will get busy in a few weeks or so,” he added, citing the U.S. presidential election as one factor that will drive markets during the fall.

Source: Wall Street Journal August 17, 2020 08:48 UTC