(Editor’s note: The future prices of benchmark tracking ETFs, the lede, the economic data, and the headline were updated in the story.)
U.S. stock futures rose on Monday following Friday’s lower close. Futures of the major benchmark indices were higher.
Manufacturing activity in New York State remained essentially flat in March, as the headline general business conditions index slipped seven points to -0.2. While new orders saw a modest increase, shipments declined and delivery times lengthened, reflecting slightly worsening supply availability.
Despite these mixed current indicators, firms expressed growing optimism for the future, with capital spending plans reaching a multi-year high.
On Sunday, President Donald Trump urged nations reliant on the Strait of Hormuz to deploy military assets, specifically minesweepers, to secure the route, warning NATO allies of consequences for failing to assist.
Simultaneously, Prime Minister Benjamin Netanyahu dismissed rumors of his death in a video on X, jokingly appearing at a café to reassure the Israeli public.
Meanwhile, the 10-year Treasury bond yielded 4.26%, and the two-year bond was at 3.70%. The CME Group’s FedWatch tool‘s projections show markets pricing a 99.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | 0.27% |
| S&P 500 | 0.46% |
| Nasdaq 100 | 0.50% |
| Russell 2000 | 0.51% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Monday. The SPY was up 0.88% at $668.10, while the QQQ advanced 1.08% to $600.16.
Stocks In Focus
Urgent.ly
- Urgent.ly Inc. (NASDAQ:ULY) skyrocketed 161.08% in premarket on Monday after it announced it had been acquired by Agero for $5.50 in cash per share. Also, the company reported better-than-expected fourth-quarter financial results.
- Benzinga’s Edge Stock Rankings indicate that ULY maintains a weaker price trend over the short, medium, and long terms.
