Stock market today: Dow, S&P 500, Nasdaq futures climb as Trump-EU trade deal kicks off huge week in markets
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Stock market today: Dow, S&P 500, Nasdaq futures climb as Trump-EU trade deal kicks off huge week in markets
US stock futures edged higher Sunday evening as investors braced for a packed week. The rally follows a strong week on Wall Street, with the S&P 500 closing at an all-time high for a fifth straight session. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 companies set to report. The Fed kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. All this is occurring alongside legal battles to open up the Fed’s meetings to investor eyes, as well as Trump’s general pressure on the central bank.
Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) also gained 0.4%. Nasdaq 100 futures (NQ=F) rose 0.5%.
The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session.
Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America’s largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday.
Read more: The latest on Trump’s tariffs
Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday.
Read more: Full earnings coverage in our live blog
Beyond earnings, the Fed takes center stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed’s meetings to investor eyes, as well as Trump’s general pressure on the central bank and Chair Jerome Powell.
On the data front, inflation and labor will be in the spotlight. Thursday’s release of the personal consumption expenditures (PCE) index, the Fed’s preferred inflation gauge, is forecast to show a modest uptick in both monthly and annual readings.
Also on deck: a flurry of jobs data. Investors will get a read on labor market moves through Tuesday’s JOLTS report, Wednesday’s ADP private payrolls, and Friday’s July employment report.