By Barbara Kollmeyer, MarketWatch , Ryan Vlastelica

Dollar surges, bond rout continues

U.S. stock-index futures edged higher on Monday, as Wall Street's postelection uptrend appeared intact, though buying enthusiasm seemed to wane following last week's sharp advance and as investors awaited more clarity on policy.

Major indexes surged last week, with the Dow recording its biggest weekly gain since 2011 and hitting multiple records. The S&P 500 saw its largest weekly advance since 2014.

Last week, investors bet that President-elect Donald Trump's economic proposals--including massive cuts to the corporate tax rates and reduced financial and environmental regulation--will lead to accelerated economic growth. However, there are few specific details about the policies he may propose, as well as how much fiscal slack Trump will have to fund his ambitious spending plans. Those questions, along with the scale of last week's rally, could limit the market's advance in the short term.

"There are a lot of people who are waiting to see the actualities of his proposals, because right now we only have the broad-brush outlines," said Mark Grant, managing director at Southwest Securities, who added that he nonetheless expected the new administration's policies to help stock prices.

"I'm very bullish about the equity market right now," he said.

Need to know:Why investors could come to regret last week's appetite for stocks (

Stock futures pared or reversed gains seen in Asia and early Europe trading hours. Dow Jones Industrial Average futures rose 46 points, or 0.2%, to 18,833, pulling back from gains of more than 100 points earlier. S&P 500 futures rose 1.4 point to 2,163, a gain of less than 0.1%, while Nasdaq-100 futures slipped 9.75 points to 4,738, a decline of 0.2%.

The weakness in the tech-heavy Nasdaq was another trend that carried over from last week. Technology stocks sold off sharply last week (, in contrast to other sectors, like financials, which saw big gains.

Read:Trump rally to be followed by 11% stock-market tumble, forecasts Tom DeMark (

In other markets, a key dollar gauge leapt to its highest in nearly a year ( Monday, as investors priced in policy shifts expected to be undertaken during Donald Trump's presidency in the U.S.

European stocks were also paring earlier gains, with the Stoxx Europe 600 index up just 0.2%, after opening up 0.8%. Asian stocks had a mixed day (, with the Hong Kong Hang Seng Index dropping 1.4%, while the Nikkei 225 index rose 1.7% on a weak yen.

Gold was trading marginally higher, while oil prices fell.

( see:Donald Trump tells supporters to stop harassment (

( yield on the U.S. 10-year Treasury bond traded as high as 2.29%, the highest since early January. The 30-year bond yield moved above 3%, also the highest since January. The yield on the two-year Treasury note moved above 1% for the first time in about a year.

Read:U.S. Treasury yields surge, add to Trump-fueled climb (

Bonds have been suffering on the view that while Trump's policies could be good for growth, they could also be inflationary, meaning the Federal Reserve may be forced to raise interest rates faster than markets expected. Mutual and exchange-traded funds benchmarked to the Bloomberg Barclays Aggregate U.S. Bond Index lost about $18 billion in value last week (

Investors will hear from Fed Chairwoman Janet Yellen this week ( as she testifies before Congress about the economic outlook, roughly a month before a Fed meeting, which many believe could deliver a U.S. interest-rate hike.

Read:With Trump win comes expectations for interest rates to rise 'bigly' (

The dollar ( was continuing last week's strong performance, hitting multimonth highs against the euro, yen and Canadian dollar on Monday. The ICE Dollar index , which measures the dollar's strength against six of its biggest rivals, rose to 99.805 from 99.055 late Friday, trading roughly at the highest level in about a year, according to FactSet.

Economic docket: There is no major economic data on Monday's calendar, but there is a lineup of Fed speakers.

Dallas Fed President Rob Kaplan will be heard in a discussion at the Wichita Falls Chamber of Commerce at 1:20 p.m. Eastern Time. Later in the afternoon, Richmond Fed President Jeffrey Lacker will appear on a panel discussion on fiscal policy and debt in Chestertown, Md., at 5 p.m. Eastern. Then San Francisco Fed President John Williams will speak on growing China trade and investment in San Francisco at 6:30 p.m. Eastern.

Stocks to watch:Siemens AG(SIE.XE) said Monday it has agreed to buy U.S.-based Mentor Graphics Corp.(MENT) in a merger deal worth $4.5 billion ( Shares of Mentor rose nearly 19% in premarket.

Samsung Electronics Co.(005930.SE) said it would buy U.S. auto-parts supplier Harman International Industries Inc. (HAR) for $8 billion in an all-cashdeal ( ( Harman shares were up 24% in premarket trading.

(END) Dow Jones Newswires

November 14, 2016 08:58 ET (13:58 GMT)

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