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Futures tied to the Dow Jones Industrial Average fell by 18 points. Futures linked to the S&P 500 and Nasdaq-100 traded flat. Last week, the S&P 500 and Nasdaq Composite rose 3.7% and 4.9%, respectively, while the Dow Jones Industrial Average gained 3.2%.

Seasonality is also in Wall Street’s favor. According to the Stock Trader’s Almanac, the S&P 500 has historically risen more than 1% on average in December, making it the third-best month of the year in records going back to 1950.

However, the market saw volatility in November and did not move smoothly. The S&P 500 and Dow traded flat throughout the month, while the Nasdaq ended its seven-month streak with a 1.5% decline. At one point in November, the Nasdaq fell nearly 8% from its October close. Concerns over artificial intelligence stock valuations pressured the major indexes throughout the month.

Analysts noted that last week's sharp rally, which helped the market recover after a difficult start to November, has fueled optimism for a positive December. With expectations of a rate cut increasing, the stock market has relaxed.

The S&P 500, Nasdaq Composite, and Dow climbed 3.7%, 4.9%, and 3.2%, respectively, last week. Analysts expect the S&P 500 to rise more than 1% on average in December, making it historically the third-best month since 1950.

Dow Jones Industrial Average futures rose 31 points, or 0.1%. Futures linked to the S&P 500 and Nasdaq-100 traded flat.