* Three major indexes hit all-time highs on Monday
* Medtronic drops on revenue miss, forecast cut
* Dollar Tree soars on profit beat
* Futures up: Dow 44 pts, S&P 4.5 pts, Nasdaq 19 pts
(Adds details, comments updates prices)
By Yashaswini Swamynathan
Nov 22 Wall Street's three main indexes were set
to hit records again on Tuesday as the post-election rally
continues, with investors buying into a market primed to benefit
from President-elect Donald Trump's pro-growth policies.
Stock have rallied since the election on Nov. 8 as Trump has
promised tax cuts, higher spending on infrastructure and simpler
regulations in the banking and healthcare industries.
The Dow, S&P 500, Nasdaq and small cap
Russell 2000 indexes all closed at record highs on
Monday, the first such instance since December 1999.
"Optimism is returning because of the potential that exists
in the form of fiscal stimulus, infrastructure spending and tax
cuts and is renewing confidence on the part of investors and
consumers," said Robert Pavlik, chief market strategist at
Boston Private Wealth in New York.
Dow e-minis were up 44 points, or 0.23 percent at
8:26 a.m. ET (1326 GMT), with 24,387 contracts changing hands.
S&P 500 e-minis were up 4.5 points, or 0.21 percent,
with 140,579 contracts traded.
Nasdaq 100 e-minis were up 19 points, or 0.39
percent, on volume of 22,881 contracts.
"The rally has been broad based with not any one sector
being left behind and that's a very positive sign for the
markets," Pavlik said.
The S&P 500 financial sector has risen more than 11
percent since the election, leading the gainers among the 11
major sectors. Industrials have increased 5.6 percent.
Shares of Medtronic tumbled 6.1 percent at $75.67
premarket after the medical device maker reported quarterly
revenue that missed expectations and cut its full-year adjusted
Dollar Tree surged 8.6 percent to $89.04 after the
biggest U.S. dollar-store chain reported a better-then-expected
Palo Alto dropped 11.21 percent to $143 after the
cybersecurity firm's current-quarter revenue forecast missed the
average analysts' estimate.
Economic data on tap for Tuesday includes a report that is
likely to show existing home sales dropped 0.5 percent to 5.43
million units in October. The report is due at 10:00 a.m. ET
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Anil D'Silva and Savio D'Souza)