The New York Stock Exchange is set to open slightly higher on Monday at the start of what promises to be a relatively quiet week, as the earnings season draws to a close.

Half an hour before the opening, futures on the main New York indices were down between 0.3% and 0.4%, pointing to a continuation of the upward trend of the past two weeks.

Investors are hoping that Wall Street will live up to the famous stock market proverb "Sell in May and go away".

According to this famous saying, equity market performances tend to be disappointing in the period from May to October, as opposed to November to April.

According to data compiled by Stock Trader's Almanac, the months of May have proved even more difficult in years marked by a presidential election.

This year, May looks to be off to a good start, with Wall Street having just completed two consecutive weeks of gains, boosted by Friday's reassuring employment figures.

Another element of support, and perhaps the most important, is that companies overall reported solid first-quarter results, particularly in technology.

To date, 80% of S&P 500 companies have released their quarterly results, and of these, 77% have posted earnings above analysts' estimates, compared with an average of 74% since 2014.

Among the companies that have yet to release their quarterly results, US entertainment giant Disney and predictive AI specialist Palantir will announce theirs this week.

Among the few indicators on this week's agenda, the University of Michigan's consumer confidence index on Friday will provide a clearer picture of current US household morale.

Meanwhile, the bond markets are continuing their upward trend, with the yield on 10-year Treasuries returning to 4.47%, down almost three basis points, which is also helping to support the stock market.

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