Stock futures gain as rally looks to continue

Stock futures pointed to gains on Monday as Wall Street looked to build on a week-end rally driven by a softer-than-expected jobs report that fueled bets on an earlier Federal Reserve rate cut.

Futures tied to the S&P 500 (^GSPC), the tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) all rose around 0.3%.

Stocks rose late last week, getting a boost from a Goldilocks jobs report that took stock and delivered welcome news for both the markets and the Fed. More than two-thirds of bets are now on a Fed rate cut in September the CME FedWatch tool. Most traders now expect at least two cuts by the end of the year.

These bets could be changed by the return of Fedspeak, now that exonerating Fed officials are no longer bound by a blackout period before the meeting. New York Fed President John Williams and Thomas Barkin of the Richmond Fed will provide comments on Monday, while Neel Kashkari of Minneapolis will speak on Tuesday.

In company news, Disney (DIS) will take center stage this week as earnings season begins to wind down. The stock is up about 25% so far this year. Meanwhile, after rallying 6% after Friday's earnings, shares of Apple ( AAPL ) fell about 0.5% after Berkshire Hathaway CEO Warren Buffett revealed this weekend that the company was selling its shares in the iPhone maker had phased out.

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