Futures Gain on Trade News
U.S. equity futures rose but were off their highs Monday as investors showed limited enthusiasm over a trade deal announced between the U.S. and the European Union.
Futures for the Dow Jones Industrials poked higher 28 points, or 0.1%, to 45,110.
Futures for the broader index took on 10.75 points, or 0.2%, to 6,435.75.
Futures for the NASDAQ popped 81.75 points, or 0.4%, to 23,503.
The moves came after President Donald Trump announced Sunday that the U.S. has reached an agreement with the European Union to lower tariffs to 15%. The president had previously threatened 30% tariffs on most imported goods from the U.S.’s largest trading partner.
Wall Street otherwise prepared for an especially busy week that will bring earnings from several major tech companies, a key Federal Reserve meeting, Trump’s Aug. 1 tariff deadline and important inflation data.
The market is gearing up for the busiest week of earnings season.
More than 150 companies in the S&P 500 are due to post their quarterly results, including “Magnificent Seven” names Meta Platforms and Microsoft on Wednesday, followed by Amazon and Apple on Thursday. Investors will be listening for companies’ comments on AI spending for direction on whether big investments in hyperscalers this year are justified.
This week, the Fed will also hold its two-day policy meeting, concluding on Wednesday. Although the central bank is expected to keep its key short-term interest rate at its current target range of 4.25%-4.5%, investors will be looking for clues about whether a rate cut could be on the table at the September meeting.
In Japan, the Nikkei 225 index backed off 1.1% Monday, while in Hong Kong, the Hang Seng moved ahead 0.7%
Oil prices acquired 81 cents to $65.97 U.S. a barrel.
Gold prices nosed ahead 70 cents to $3,336.30 U.S. an ounce.
