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October 01, 2018 @ 12:21 +03:00
The S&P 500 was poised to hit a record on Monday after the U.S. and Canada reached a last-minute deal to revise the North American Free Trade Agreement.
How are major benchmarks trading?
Dow Jones Industrial Average futures YMZ8, +0.77% jumped 168 points, or 0.6%, to 2,934.50, while S&P 500 futures ESZ8, +0.62% rose 14.25 points, or 0.5%, to 2,933.25. Nasdaq-100 futures NQZ8, +0.77% gained 46.75 points, or 0.6%, to 7,702.
The S&P 500 SPX, +0.00% index closed modestly lower Friday, but just 0.57% off its record close of 2,930.75 on Sept. 20. The Dow DJIA, +0.07% and Nasdaq Composite Index COMP, +0.05% finished modestly higher on Friday.
The S&P 500 polished off its best quarter since the end of 2013, climbing more than 7% in the third quarter. The Dow advanced 9%, with both indexes rising in 11 of the past 12 quarters. The Nasdaq gained more than 7% over the quarter, up for its ninth straight quarter. The fourth quarter was kicking off with upbeat news on the trade front after a surprise breakthrough in U.S. and Canada negotiations.
This week’s key economic data will likely be September employment numbers. Before that on Monday, the markit manufacturing purchasing managers index for September will be released at 9:45 a.m. Eastern Time, followed by the Institute for Supply Management’s manufacturing index for September and construction spending for August, both due at 10 a.m. Eastern.