Futures Point to Cautious After Stocks Hit Record Levels
NEW YORK (TheStreet) -- S&P 500 futures were little changed Monday after the index surged past 1,600 for the first time Friday.
"Investors continue to be bullish as major U.S. indices breached psychological barriers (S&P 500 1600 and DJIA 15000)," Lee Chen Hoay, an investment analyst at Phillip Futures in Singapore, penned in a note."With little upcoming economic data for this week, market is likely to pay attention to the opinion of U.S. officials at Federal Reserve on the recovery and bond buying."
From Wednesday to Friday, a number of Fed officials will be speaking, including Jeremy Stein, Jeffrey Lacker and Esther George.
Futures for the S&P 500 were unchanged, or 1.12 points below fair value, to 1,608.5 after the index achieved record levels Friday as job growth in April eased concern that the world's largest economy was unable to translate corporate profits into lower unemployment.
Futures for the Dow Jones Industrial Average were rising 3 points, or 133.42 points above fair value, to 14,901 after the index on Friday broke past 15,000, a record intra-day high.
Futures for the Nasdaq were up 5.5 points, or 36.56 points above fair value, to 2,940.5.
Cliffs Natural Resources
Warren Buffett's Berkshire Hathaway
Buffett is expected Monday to do a number of TV interviews following Berkshire Hathaway's shareholders' meeting over the weekend.
The U.S. economic calendar is empty Monday.
The Hong Kong Hang Seng Index closed up 0.99% Monday. The DAX in Germany was down 0.09%.