SPX: S&P 500 Futures Steady After Wall Street Lifts Stocks to Fresh Record Highs

Another day, another all-time high — the Trump pump appears endless in sight as traders continue to ramp up bets on risk assets.

• Futures tied to the S&P 500 index were hugging the flatline early Monday ahead of the opening bell as traders were cautious to approach one of the last few trading weeks of the year. And for good reasons — on Friday, both the S&P 500 and the Nasdaq Composite notched fresh record closing highs and capped their third weekly gain in a row. Only the Dow Jones Industrial Average slipped for the day and logged a losing week.
• The outlook for stocks remains bright after the US posted its monthly jobs update. Turns out, America’s employers tapped 227,000 people to join the labor force in November, coming above estimates by about 25,000. With all that new staff now trying to figure out how things work (and probably hoping to get more remote time), investors continue to squeeze more pump out of the Trump trade — it’s basically a ‘buy everything’ rally.
• President-elect Donald Trump may not be in office just yet, but he’s keeping busy forming a team of A-list entrepreneurs, business people and money mavens. His last pick is David Sacks, a venture capital guy who will be helping the White House handle all things AI and crypto. And that actually fueled digital assets’ latest upside swing with Bitcoin prices keeping well-bid near the $100,000 mark. In that context, $125,000 soon?