The Dow Jones Industrial Average was on course to drop on Monday, while Japan’s flagship index surged to a new high following Prime Minister Sanae Takaichi’s landslide victory in parliamentary elections
Futures tracking the Dow were down 35 points, or 0.1%. S&P 500 futures slipped 0.2%, and contracts tied to the tech-heavy Nasdaq 100 were 0.5% lower.
The three gauges all rebounded on Friday, with the Dow topping 50,000 for the first time ever. Dip-buying in tech snowballed into a full-blown surge for the market after the University of Michigan’s preliminary consumer sentiment index topped expectations, signaling that the economy remains robust.