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S&P 500 Index Futures The broad market indexes edged higher on Monday after suffering their worst weekly losses since April last week as investors shifted away from large-cap tech stocks into smaller ones.

Futures tied to broader market indexes rose 0.5%. Dow Jones Industrial Average and Nasdaq 100 Futures Increases of 0.2% and 0.7% respectively.

Traders are also keeping a close eye on the U.S. political landscape after the president leaves office Joe Biden fall Dropping out of the presidential race Sunday and endorsed the Vice President Kamala Harris as the Democratic candidate. Since Biden’s poor performance at the debates in June, many analysts have viewed the former president’s victory as increasingly likely Donald Trump November.

Infrastructure Capital Advisors CEO Jay Hatfield said he expects the stock market reaction to Biden’s withdrawal from the presidential race to be “modest,” as widely expected Ask him to quit The sound is getting louder and louder.

“The fact that Biden is endorsing Kamala Harris reduces uncertainty. Trump trades are likely to unwind slightly on Monday as Vice President Harris is seen as having a slightly better chance of winning,” Hatfield said.

Profits and central bank policy will also be top considerations. Traders see a near 93% chance of a rate cut by the Federal Reserve during its September meeting. With that in mind, investors have been selling off the market’s rising large-cap tech stocks in favor of interest-rate-sensitive stocks such as small-cap and industrial stocks that stand to benefit from lower interest rates.

Last week, the S&P 500 and Nasdaq fell nearly 2% and 3.7% respectively, their largest weekly losses since April. On the other hand, the Dow gained 0.7%, while the small-cap-heavy Russell 2000 gained 1.7%.

On the profit side, investors will focus on VerizonQuarterly results are announced Monday morning. A major economic update is not expected until later this week.