May 10, 2013-Stocks Look to Edge Higher on Easing US Monetary Policy

Stock index futures edged higher on Friday as the market's recent momentum returned, putting equities on track for a strong week that repeatedly took indexes to record highs. The length of the recent rally has surprised many, and it may be difficult for the upward momentum to continue without further catalysts, such as first-quarter earnings reports, which are nearing an end. The S&P 500 ended a five-day streak of record closing highs on Thursday, while the Dow broke a two-day streak by dipping modestly. Still, investors expect shares to generally trend higher given the Federal Reserve's accommodative monetary environment and encouraging data on the labor market, including jobless claims on Thursday and last week's payroll report. "Between the jobs report, quantitative easing and a 0 percent interest rate policy, there's no question that there's a floor under the market and that it wants to go up, even if some sectors are overdone," said Chris Bertelsen, chief investment officer of Global Financial Private Capital in Sarasota, Florida.