U.S. stock index futures rose on Monday as retailers prepared to wind down a better-than-feared quarterly earnings season, while the countdown to Election Day was set to begin with the Democratic National Convention kicking off later in the day.
The benchmark S&P 500 ended Friday below its pre-pandemic record closing high as a Wall Street rally lost steam with a clutch of data pointing to a wobbly recovery for the world's biggest economy.But figures this week are likely to show another jump in housing starts as demand surges for single-family homes in the suburbs, in turn benefiting sales of home improvement chains such as Lowe's Companies Inc and Home Depot Inc .
As of Friday, 457 companies in the S&P 500 had reported results, of which 81.4per cent came in above dramatically lowered expectations, according to Refinitiv data. The Republican convention will be held from Aug. 24 to Aug. 27 and both will be mostly virtual this year due to the COVID-19 pandemic.
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