The major U.S. index futures are pointing to a modestly lower opening on Monday following the strength seen in the previous week. Profit taking may lead to weakness on Wall Street following the recent strength in the markets. Nonetheless, trading activity may be somewhat subdued ahead of President Donald Trump’s speech to a joint session of Congress on Tuesday.
After seeing modest weakness throughout much of the session, stocks showed a notable upward move going into the close of trading on Friday. The major averages climbed into positive territory, with the Dow extending its winning streak to eleven sessions and reaching a new record closing high.
The major averages ended the day modestly higher. The Dow crept up 11.44 points or 0.1 percent to 20,821.76, the Nasdaq rose 9.80 points or 0.2 percent to 5,845.31 and the S&P 500 edged up 3.53 points or 0.2 percent to 2,367.34.