Stocks Move Higher to Start Week

U.S. stock futures moved higher on Monday as investors tracked the latest developments in trade and awaited the start of big tech earnings this week.

Futures for the Dow Jones Industrials grabbed 97 points, or 0.2%, to 44,637

Futures for the S&P 500 collected 14.5 points, or 0.2%, to 6,349.25.

Futures for the NASDAQ gained 58 points, or 0.3%, to 23,282.25.

Trade was once again in focus as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the “hard deadline” for countries to start paying tariffs, though he also added that “nothing stops countries from talking to us after Aug. 1.”

Wall Street is coming off a winning week for the S&P 500 and Nasdaq, both of which continued to notch all-time highs. The S&P 500 ended the week higher by 0.6%, while the Nasdaq climbed 1.5%. The Dow ended the week slightly lower.

The moves come on the heels of a solid start to earnings season. Of the 59 S&P 500 companies that have reported thus far, more than 86% have topped expectations, according to FactSet data.

The major averages could receive a boost in the week ahead if Alphabet and Tesla — the first of the so-called Magnificent Seven companies set to report — manage to beat estimates. The megacaps are expected to be a major driver of earnings growth during the second-quarter earnings season. FactSet’s John Butters expects the Magnificent Seven will post earnings growth of 14% in the second quarter, while the other 493 S&P 500 companies are seen posting growth of just 3.4%.

On the economic front, the June reading for leading indicators, which are predictive metrics for the overall market and economy, is scheduled for release on Monday at 10 a.m. ET.

In Japan, markets were closed for holiday, while in Hong Kong, the Hang Seng gained 0.7%

Oil prices dipped six cents to $67.28 U.S. a barrel.

Gold prices charged ahead $21.10 to $3,379.40 U.S. an ounce.