Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City.
Johannes Eisele | AFP | Getty Images
U.S. stock futures rose on Sunday night after Wall Street logged in its third consecutive weekly gain, but fell short of breaking the all-time high set on Feb. 19.
Dow Jones Industrial Average futures were up by 56 points, or 0.2%. S&P 500 and Nasdaq 100 futures also traded higher by 0.2% each.
The S&P 500 climbed 0.6% last week and the Nasdaq Composite advanced 0.1%. The Dow gained 1.8% last week.
Despite those gains, the S&P 500 failed to notch a fresh record high after flirting with the milestone for most of last week. Through Friday’s close, the S&P 500 was just 0.6% below 3,393.52, the intraday record set in February.
“The S&P 500 is overbought into key resistance and up against seasonal headwinds,” Ari Wald, head of technical analysis at Oppenheimer, said in a note to clients. But should the market “consolidate from here, we’ll be monitoring for an accumulation of cyclical equities to confirm what we expect to be a breakout to a new high.”