Stock futures are little changed as major averages' rally takes a breather: Live updates

fell around 0.3% each. The pullbacks come on the back of last week's strong gains, during which the indexes reached new all-time closing high levels.

"There are a lot of people who are underweight or under-exposed to this market, and they're going to scramble to get exposed," Pies told CNBC's"" on Monday."I think the combination of a soft landing, a Fed that has your back and under-invested strategists and institutions means that this rally can keep going."

"We're coming off of a post-FOMC high," he told CNBC in a Monday interview."The market is getting more and more vulnerable to a market decline or a pullback in prices."

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