U.S. stock futures edge higher Sunday night after Dow’s record week

According to CNBC, U.S. stock futures rose Sunday night after a strong week on Wall Street that pushed the Dow Jones Industrial Average to record highs, with Dow futures up 12 points, S&P 500 futures up 0.4% and Nasdaq-100 futures up 1.3%. The Dow gained nearly 2% last week, while the S&P 500 and Nasdaq Composite rose 1.8% and 2.1%, respectively; the VanEck Semiconductor ETF (SMH) fell 3.2% for its second straight weekly decline. Fundstrat’s Mark Newton said sector rotation into Financials, Healthcare and Industrials helped offset weakness in semiconductors, and he expects the S&P 500 to reach 8,000 by mid-August after it closed last week at 7,483.24. Traders are also watching the Federal Reserve, with minutes from the June meeting—the first led by new Chairman Kevin Warsh—due Wednesday.