Stock futures inch higher as S&P 500 looks to wrap up 7th winning month in a row

Pictured in front Frankfurt Stock Exchange, Germany on December 29, 2020, is Reinhard Dachlauer's bull sculpture, which represents the rise of market.
Stock futures were slightly higher in overnight trading Monday as the S&P 500 aims to end its seventh consecutive month of record-breaking gains.

Futures on the Dow Jones Industrial Average gained forty points. Futures on the S&P 500 edged up 0.1%, while those for the Nasdaq 100 were flat.

After-hours trading for Zoom shares dropped more than 11% on Monday, as the video-conferencing software firm reported a slowing in revenue growth in its second quarter. The shares fell even though Zoom's earnings beat expectations and the company raised its full-year guidance after the pandemic became worsening.

Tuesday is the last trading day in August. Major averages will post solid gains. The S&P 500 has seen a 3% increase, while the tech-oriented Nasdaq Composite has seen a 4% rise. This puts it on track to record its third consecutive winning month. Blue-chip Dow is slightly higher at 1.3%.

"Despite increasing geopolitical risk, peak economic growth worries, and the Federal Reserve moving closer towards tapering its asset purchasing program, the steady ascent in stocks continues," Keith Lerner (chief market strategist at Truist) stated in a note.