Dow Futures Shoot Ahead to Start Week

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U.S. stock futures were slightly higher in early morning trading on Monday as investors prepared to start the week after the S&P 500 broke a five-week winning streak.

Futures for the Dow Jones Industrials acquired 147 points, or 0.4%, to 36,161.

Futures for the S&P 500 17.5 points, or 0.4%, to 4,695.75.

Futures for the NASDAQ Composite jumped 71 points, or 0.4%, to 16,263.75.

Tesla shares fell 2% pre-market Monday following a weekend Twitter exchange between founder Elon Musk and Sen. Bernie Sanders.

“We must demand that the extremely wealthy pay their fair share. Period,” the Vermont independent who caucuses with Democrats wrote.

“I keep forgetting that you’re still alive,” Musk responded. In a follow-up tweet, he said, “Want me to sell more stock, Bernie? Just say the word …”

Dow component ExxonMobil saw its shares under pressure, falling nearly 1% premarket as West Texas Intermediate oil futures slipped more than 1% to fall just under $80 a barrel.

Also on the bluechip index, Boeing rose nearly 3% following news that Saudi Arabian Airlines is in talks with Airbus and Boeing for a wide-body jet order. At the same time, Emirates announced an order for two Boeing 777 Freighters at the 2021 Dubai Airshow.

Dollar Tree shares gained 7% premarket following a report Friday that activist investor Mantle Ridge has taken a stake worth at least $1.8 billion in the discount store chain and will push it to do more to add to shareholder value.

Stocks are coming off a losing week after last month’s consumer price index made its largest annual increase in more than three decades.

The major averages snapped a five-week winning streak.

On Monday, President Joe Biden will host a bipartisan bill signing ceremony for the Infrastructure Investment and Jobs Act.

Overseas, the Nikkei 225 recovered 0.6% Monday, while the Hang Seng in Hong Kong gained 0.3%.

Oil prices dipped 96 cents to $79.83.

Gold prices gained $1.10 to $1,869.6 0 U.S. an ounce