US stocks are set to open slightly higher on Tuesday, continuing their early-year rally on confidence in sustainable earnings and growth momentum, despite a short-term increase in Omicron Covid cases.
At 7 a.m. ET (1200 GMT), Dow Futures were up 125 points, or 0.3%, S&P 500 Futures were up 18 points, or 0.4%, and Nasdaq 100 Futures were up 50 points, or equivalent to 0.3%.
The major indexes closed higher on Monday, with the Dow Jones up nearly 250 points, or 0.7%, to close at a record high. The S&P 500 rose 0.6%, also closing at a record, while the Nasdaq Composite added 1.2%.
Recent US economic data has pointed to a strong recovery and this week includes a series of numbers that will provide important indications for the state of the labor market as the start of a year in which the Federal Reserve The state will tighten policy.
The November employment and turnover survey will be released at 10 a.m. ET (1500 GMT) and ahead of Wednesday's ADP payrolls report release for December, and unemployment data. Initial weekly on Thursday and official nonfarm payrolls report on Friday.
According to data from Johns Hopkins University, the US recorded a record number of new Covid-19 infections on Monday, totaling more than a million cases.
Moving on to the enterprise sector, Verizon (NYSE:VZ) and AT&T (NYSE:T) are likely to be in the spotlight after agreeing on Monday to delay the rollout of new 5G services until January 19.
Apple (NASDAQ:AAPL) is also likely to be in the spotlight after the iPhone maker crossed the $3 trillion mark in market value, more than a year after passing the $2 trillion mark, while Tesla (NASDAQ:AAPL) NASDAQ: TSLA) announced it has opened a showroom in Xinjiang, becoming the latest foreign company to be embroiled in controversy over alleged human rights abuses in western China.
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