SHANGHAI (Reuters) - U.S. stock futures hit a record high early on Monday in Asia after U.S. Federal Reserve Chairman Jerome Powell said on Friday that a gradual approach to raising rates remains appropriate to protect the U.S. economy and job growth.

S&P 500 e-mini futures ESc1 rose as much as 0.15 percent to a record high of 2,881, and were last up 0.13 percent at 2880.5.

The benchmark S&P 500 index .SPX hit record highs on Friday following Powell's speech.