India, May 6 -- The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to see further upside following the rally seen to close out the previous week.
Stocks may continue to benefit from the upward momentum seen over the two previous sessions, which partly reflected renewed optimism about the outlook for interest rates.
Relatively dovish comments from Federal Reserve Chair Jerome Powell combined with weaker-than-expected job growth in April have largely eliminated short-lived concerns the Fed might actually consider raising rates.
Investors have instead grown increasingly confident about a rate cut in the coming months, with the chances rates will be lower by September now at 91.2 percent, accor...