S&P 500 futures exhibited minimal movement on Monday, following a third consecutive week of gains for the S&P 500. Futures associated with the broad market index experienced an increase of 0.1%, while Nasdaq 100 futures saw a rise of 0.5%.Futures for the Dow Jones Industrial Average decreased by 88 points, representing a decline of 0.2%. The S&P 500 achieved a new all-time high last week, propelled by a robust earnings season that has enhanced investor sentiment.

The stock market has persisted in its upward trajectory despite the ongoing hostilities in the Middle East and the apprehensions surrounding the artificial intelligence trade. Disappointing retail sales data and a relatively mild inflation print have led to a decrease in market expectations regarding a Federal Reserve rate hike in the upcoming month. “You’ve had the shift in interest rate expectations which feeds into some of those tech names, I think that helps explain some of that big rally we’ve had recently in tech after quite a quiet July where we had all those strong earnings but really tech didn’t do very much,” Rory McPherson told on Monday.

Investors face a week characterised by a scarcity of catalysts on the calendar, although the Federal Reserve will release its latest meeting minutes on Wednesday. A slew of retail earnings are also on tap, with Walmart results due out Thursday. Home Depot is set to report on Tuesday, followed by Lowe’s on Wednesday. On the economic front, investors will be closely monitoring the August Empire State manufacturing index, along with the NAHB Housing Market Index for August.