A child wearing a face mask sits on top of the Charging Bull statue, also known as the Wall Street Bull, after the coronavirus disease (COVID-19) outbreak in New York on August 19, 2020.
Carlo Allegri | Reuters
Stock futures rose slightly in night trading on Sunday as Wall Street tries to build on a record week.
Futures on the Dow Jones Industrial Average rose about 60 points, indicating a 40 point gain on Monday's opening. The S&P 500 futures and the Nasdaq 100 futures gained 0.1% each.
An unstoppable rally in major tech stocks last week pushed the S&P 500 to levels above the pre-pandemic record. The broad equity benchmark had its fourth positive week in a row, closing on Friday with a new record.
Apple surged more than 8% last week prior to the 4-to-1 stock split, bringing its profits to nearly 70% for 2020.
The tech-heavy Nasdaq Composite rose 2.6% last week, posted a six-week winning streak, and hit its 36th intraday high. The Nasdaq is up 26% this year.
However, the 30-stock Dow is still about 5% below its record high from February as many of its consumer staples and industrials have not fully recovered from the unprecedented sell-off earlier this year.
Investors remained on high alert for information on the coronavirus pandemic as the world seeks to ease restrictions and revive economic growth.
On Sunday, the U.S. Food and Drug Administration issued an emergency permit for convalescent plasma for hospitalized Covid-19 patients, a treatment that uses blood plasma donated by people who have recovered from the virus.
President Donald Trump said at a news conference on Sunday that plasma treatment lowers the death rate by 35%.
The Trump administration is also considering quickly tracing an experimental coronavirus vaccine developed in the UK for use in the US ahead of the country's upcoming presidential election, according to a report in the Financial Times.
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