Stock futures for monday are modestly higher

Stock futures for Monday are modestly higher, with S&P futures at +0.25%, despite lingering geopolitical risks. Defense industry names may attract safe-haven flows in early Monday trading. On Wednesday, the first full day of the government shutdown, the S&P 500 ( ^GSPC ) gained 0.3% to close over 6,700 for the first time ever, landing at 6,711 on the day, while the Dow ( ^DJI ) rose 0.1% to notch a second straight all-time high. On Thursday, the three major indexes — the S&P 500, Dow, and the Nasdaq ( ^IXIC ) — all hit fresh records. "However, building overbought conditions paired with diverging breadth suggest maybe this melt-up could be due for some cooling off — something we would consider a tactical opportunity to buy the dip," he added. Stock futures for Monday display a thin upward bias, with the VIX index ticking down to 13.