MARKET SNAPSHOT: Dow Industrials Shape Up For Record No.9

By Barbara Kollmeyer, MarketWatch Features Dow Jones Newswires

Deal news drives up shares of NxStage Medical

Continue Reading Below

U.S. stock futures pointed to a modestly upbeat start for Monday, with investors looking to see if the Dow industrials can try for another record as optimism fueled by strong jobs data lingers.

A couple of Federal Reserve speakers will be among the highlights later.

Dow Jones Industrial Average futures rose 39 points, or 0.2%, to 22,056, while S&P 500 futures added 2.9 points, or 0.1%, to 2,475. Nasdaq-100 futures futures put on 9 points, or 0.2%, to 5,907.

The upbeat set of forecast-beating jobs-growth numbers (http://www.marketwatch.com/story/us-gains-209000-jobs-in-july-unemployment-retouches-16-year-low-of-43-2017-08-04) for July, which drove that Dow record last week, could inspire similar action for Monday, judging by futures, said some.

"I'd say the runoff from last Friday's jobs report is helping the Dow, because that data was solid," said Connor Campbell, financial analyst at SpreadEx, in emailed comments.

Continue Reading Below

Read:Why one Fed official is the skunk at the picnic on the jobs report (http://www.marketwatch.com/story/why-one-fed-official-is-the-skunk-at-the-picnic-on-the-jobs-report-2017-08-04)

On Friday, the Dow closed up 0.3% to finish at a high of 22,092.81, for its eighth-straight record close. For the week, the blue-chip index gained 1.2%. Including Friday's record, it has now posted 34 record closes thus far this year.

The S&P 500 and Nasdaq Composite each finished Friday's session with gains of 0.2%. For the week, the S&P 500 gained 0.2%, while the Nasdaq declined 0.4%.

For the Dow, Friday also marked the ninth-straight rise in a row, the longest streak of its kind for the index since February. However, the streak comes as August trading gets under way and with September looming -- historically two of the worst months for investors.

Check out:Beneath the glow of stock-market records, darkly bearish trends are lurking (http://www.marketwatch.com/story/beneath-the-glow-of-stock-market-records-darkly-bearish-trends-are-lurking-2017-08-04)

See: The stock market's historically worst 2 months are dead ahead. Time to worry? (http://www.marketwatch.com/story/the-stock-markets-historically-worst-2-months-are-dead-ahead-time-to-worry-2017-08-05)

Fed speakers in the spotlight: St. Louis Fed President James Bullard will give a speech on monetary and economic policy at a conference in Nashville, Tenn. at 11:45 a.m. Eastern Time. Minneapolis Fed President Neel Kashkari will hold a moderated question and answer session in Bloomington, Minn. at 1:25 p.m. Eastern.

Read:American workers are missing out on a big payday, and here's the main reason why (http://www.marketwatch.com/story/american-workers-are-missing-out-on-a-big-payday-and-heres-the-main-reason-why-2017-08-06)

It'll be a light week for economic data releases, with consumer prices on Friday a key update. On Monday, investors will get consumer credit data for June at 3 p.m. Eastern Time.

"Inflation data is probably where the market is most sensitive to a surprise at the moment," said a Deutsche Bank team led by Jim Reid, in a note to clients. "Our economists also remind us that as recent Fed statements have emphasized, policy makers will be monitoring near-term inflation trends closely."

Stocks to watch: Shares of NxStage Medical Inc.(NXTM) soared 25% in thin premarket trade after Germany's Fresenius Medical Care AG & Co. KGaA(FRE.XE) said it would acquire the medical-device firm for around $2 billion (http://www.marketwatch.com/story/fresenius-medical-care-to-buy-nxstage-for-2-bln-2017-08-07) to boost its kidney dialysis business.

Tyson Foods Inc.(TSN) will release its third-quarter earnings ahead of the U.S. market's open.

Defense stocks such as Raytheon Co.(RTN) , Boeing Co.(BA) and Lockheed Martin Corp.(LMT) could be in focus after more headlines linked to North Korea.

U.S. Secretary of State Rex Tillerson said in a meeting in Manila, Philippines on Monday that North Korea will have to stop launching missiles (http://www.marketwatch.com/story/north-korea-must-stop-launching-missiles-if-it-wants-talks-with-us-says-tillerson-2017-08-07) if it wants to hold talks with the U.S. At the weekend, China agreed to tough new U.N. sanctions (http://www.marketwatch.com/story/north-korea-defiant-as-china-agrees-to-tough-new-un-sanctions-2017-08-06) against North Korea.

Read:Beneath the glow of stock-market records, darkly bearish trends are lurking (http://www.marketwatch.com/story/beneath-the-glow-of-stock-market-records-darkly-bearish-trends-are-lurking-2017-08-04)

Other markets: European stocks were mostly trading flat (http://www.marketwatch.com/story/european-stocks-catch-their-breath-after-downbeat-german-data-2017-08-07) after a downbeat reading on German industrial output. Asian stocks swung higher to start the week (http://www.marketwatch.com/story/asian-markets-swing-higher-to-start-the-week-2017-08-06), inspired by last week's U.S. jobs data.

Oil prices fell as investors waited for news from a two-day meeting of the Organization of the Petroleum Exporting Countries (http://www.marketwatch.com/story/oil-prices-struggle-for-footing-ahead-of-opec-meeting-2017-08-07) in Abu Dhabi that starts Monday.

The dollar eased , mostly against the euro .

(END) Dow Jones Newswires

August 07, 2017 05:52 ET (09:52 GMT)