S&P futures hover at record levels; materials, energy stocks rise – Reuters

S&P futures hover at record levels; materials, energy stocks rise – Reuters

The S&P 500 and the Dow were set to open at record highs on Monday as optimism that interest rates would remain lower for longer lingered, while a surge in commodity prices lifted shares of miners, energy and steel companies.

Copper miner Freeport-McMoran (FCX.N) rose 3.4% in premarket trading, while aluminum producer Alcoa (AA.N) gained 3.4% and steelmaker United States Steel Corp (X.N) was up 2.4% as copper prices touched a record high and aluminum scaled a new peak.

Chevron Corp (CVX.N), Occidental Petroleum Corp (OXY.N) and Exxon Mobil Corp (XOM.N) firmed about 1% after a cyber attack on top U.S. pipeline operator Colonial Pipeline shuttered fuel network that transports nearly half of the East Coast's supplies, lifting oil prices.