Stocks - U.S. Futures Rise on Holiday Sales Rally

  • Stock Market News
Stocks - U.S. Futures Rise on Holiday Sales Rally
Credit: © Reuters. - U.S. futures pointed to a higher open on Monday, with the Dow on track for triple-digit gains as record holiday sales on Black Friday boosted investor sentiment.

The S&P 500 futures rose 30 points or 1.15% to 2,659.75 as of 6:40 AM ET (11:40 GMT) while Dow futures surged 253 points, or 1.04%, to 24,531.0. Meanwhile tech heavy Nasdaq 100 futures increased 105 points, or 1.62%, to 6,636.50.

The biggest shopping day of the year pulled in a record $6.2 billion in online sales on Black Friday, according to data compiled by Adobe Analytics.

The holiday sales rush continues into Cyber Monday, which is expected to generate $7.8 billion in sales, up nearly 18% from last year.

Retail and technology stocks are in focus, with Apple (NASDAQ: AAPL ) gaining 1.83% and Netflix (NASDAQ: NFLX ) up 2.64%. Tesla (NASDAQ: TSLA ) rose 1.18%, after CEO Elon Musk admitted in an Axios interview that the luxury car company was close to dying earlier in the year.

Bank of America (NYSE: BAC ) increased 1.37%, and Swiss company Logitech International SA (NASDAQ: LOGI ) jumped 5% after news that the company ended talks to acquire acquire Bluetooth earpiece maker Plantronics Inc (NYSE: PLT ).

Elsewhere, retailer Canada Goose Holdings Inc (NYSE: GOOS ) fell 1.82%, while medical device maker Medtronic (NYSE: MDT ) dipped 1.41%.

On the data front, Chicago Federal Reserve national activity index numbers come out at 8:30 AM ET (13:30 GMT), with Dallas Fed manufacturing survey data at 10:30 AM ET (15:30 GMT).

In other commodities, gold futures rose 0.23% to $1,231.90 a troy ounce while crude oil futures increased 0.69% to $50.77 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.18% to 96.655.

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