Stock market news live updates: Stock futures point to higher open after losing week

Stock market news live updates: Stock futures point to higher open after losing week

U.S. stock futures were firmly higher ahead of Monday’s open as the indexes aim to rebound from a week of losses on the heels of strong May jobs data that affirmed Federal Reserve officials were likely to continue sharpening monetary conditions.

Futures tied to the S&P 500 were up 1%. Dow Jones Industrial Average gained 250 points, or 0.7%. Futures on the Nasdaq climbed 1.4%.

All three major indexes fell Friday to round out another down week. The declines came after a stronger-than-expected May jobs report showed hiring kept at a slower but still-robust tempo last month – a sign of continued strength in the labor market expected to keep policymakers on pace with interest rate-hiking plans.