U.S. stock futures were falling early Tuesday after the S&P 500 closed above 6,000 for the first time in the previous session. The index is on course for its first back-to-back yearly gains of more than 20% for the first time since 1998.
Dow Jones Industrial Average futures were down 70 points, or 0.2%, after closing above 44,000 for the first time yesterday. S&P 500 futures also fell 0.2%, as did contracts tied to the technology-heavy Nasdaq 100. All three indexes finished Monday higher.
The election of Donald Trump to another term in the White House last week has ignited a rally in stocks on optimism that lower taxes and looser regulation will bolster company earnings over the next four years. There are still two months to go before Trump takes office, but the market is already moving on his anticipated plans as well as data and earnings such as the inflation figures and Home Depot earnings out this week. More interest-rate reductions from the Federal Reserve may also lift stocks over the coming months.