US pre-open: Futures point to positive session following Dow's record close
Wall Street futures had stocks opening higher ahead of the bell on Thursday after the Dow Jones closed at an all-time high in the previous session.
As of 1230 GMT, Dow Jones futures were up 0.29%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.64% and 1.63% firmer, respectively.
The Dow Jones closed 464.28 points higher on Wednesday as modest inflation figures offset concerns around elevated bond yields.
Like yesterday, Thursday's pre-open gains were at least partly fuelled by news that the House of Representatives had passed Joe Biden's $1.9trn stimulus package, with the President now preparing to sign it into law by 14 March.
Also in focus ahead of the bell on Thursday was the yield on the 10-year Treasury note, sliding for a second straight day, down about 2 basis points at 1.50% and temporarily halting a rotation away from tech and growth stocks and into more cyclical sectors.
SpreadEx's Connor Campbell said: "Looking ahead and the Dow Jones looks ready to step in and gee the European markets up when the bell rings on Wall Street. At this point, a 0.3% increase still equates to a 100 point rise for the Dow, one that would push it beyond 32,400 for the first time in its history.
"It is going to be interesting to see in the coming weeks what the Dow and the rest of the US markets focus on next, now that Biden’s stimulus package has been passed. In other words, how long the post-Plan honeymoon period will last, and how quickly investors will find a new cause du jour."
On the macro front, jobless claims data for the week ended 6 March will be released at 1330 GMT, while JOLTs job openings numbers for January will follow at 1500 GMT.
In corporate news, Sequential Brands and Inspired Entertainment were both slated to report earnings before the open.