US stock futures rose on Monday as investors returned from an extended holiday weekend, with Wall Street adding to a strong prior week that pushed the Dow Jones Industrial Average to new record highs. The Dow gained nearly 2% last week, bringing it close to the 53,000 level, while the S&P 500 and Nasdaq Composite advanced 1.8% and 2.1%, respectively.
These gains came despite softness in semiconductor stocks—key drivers of this year’s rally—as investors rotated into other areas of the market. Healthcare, financials, and industrials were among the main beneficiaries, with all three sectors finishing the week at record highs.
Attention now turns to the minutes from the Federal Reserve’s June policy meeting, which investors will scrutinize for clues about the future path of interest rates. Markets continue to factor in multiple Fed rate hikes this year, even as easing inflation worries are reinforced by the normalization of oil shipments through the Strait of Hormuz.
