E-mini S&P 500 Index (ES) Futures Technical Analysis – Needs to Hold 4225.25 to Sustain Upside Momentum

E-mini S&P 500 Index (ES) Futures Technical Analysis – Needs to Hold 4225.25 to Sustain Upside Momentum

June E-mini S&P 500 Index futures are inching higher during the pre-market session on Monday on light trading. The benchmark index hit another record high as investors continued to react to Friday’s weaker-than-expected U.S. jobs report that drove Treasury yields sharply lower while dampening the need for early tightening by the Federal Reserve. Helping to put a lid on prices are concerns over a fuel pipeline cyberattack.

At 02:54 GMT, June E-mini S&P 500 Index futures are trading 4235.00, up 9.75 or +0.23%.

A ransomware attack forced the closure of the largest U.S. fuel pipeline over the weekend, Reuters reported. Colonial Pipeline, which operates a 5,500-mile system, said it was forced to halt the transport of fuel from the Gulf Coast to the New York metro area on Friday as it “took certain systems offline to contain the threat.”