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Home>UPDATE: Dow, S&P 500 take aim at fresh records to start the week

UPDATE: Dow, S&P 500 take aim at fresh records to start the week

UPDATE: Dow, S&P 500 take aim at fresh records to start the week

09/18/2017

By Barbara Kollmeyer, MarketWatch

Gold prices, Japanese yen take a back seat to stocks

U.S. stocks were shaping up to resume a record run on Monday, with stock futures pointing higher as investor appetite for riskier assets continued to improve and concerns over North Korea eased.

Dow Jones Industrial Average futures rose 66 points, or 0.3%, to 22,285, while S&P 500 futures gained 6.05 points, or 0.2%, to 2,503. Nasdaq-100 futures added 9.75 points, or 0.2%, to 6,005.25.

Wall Street stocks posted sharp gains last week. On Friday, the Dow industrials logged a fourth-straight record close (http://www.marketwatch.com/story/dow-futures-steady-paring-losses-that-came-after-latest-north-korean-missile-2017-09-15) and a sixth-straight gain. At the same time, The S&P 500 index logged a fresh record finish, its 34th of 2017. Weekly gains for those indexes -- up 2.16% and 1.58%, respectively -- were the best for the DJIA and S&P 500 since late 2016 and early 2017.

On Monday, worries about tensions between North Korea and the U.S. seemed to be abating, with investors turning back to equities and other assets seen as more risky.

The fact that U.S. stocks closed at records on Friday "suggests that as long as the situation does not escalate into military conflict, market participants may continue to place less and less emphasis on North Korean developments," said Charalambos Pissouros, senior analyst at IronFX, in a note to clients on Monday.

In a possible contributing factor, U.S. Secretary of State Rex Tillerson said the U.S. seeks a "peaceful solution" and wants to "bring North Korea to the table for constructive, productive dialogue," speaking in an interview on CBS's "Face the Nation." (https://www.cbsnews.com/news/transcript-u-s-secretary-of-state-rex-tillerson-on-face-the-nation-sept-17-2017/)

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