U.S. stock futures edged higher ahead of Monday’s as investors reacted to the U.S.-EU trade deal and looked ahead to a packed week of big tech earnings. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.53%, 0.35%, and 0.39%, respectively, at 1:21 a.m. EDT on July 28.
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The early gains comes after Trump announced Sunday that the U.S. had reached a deal with the European Union to cut tariffs to 15%. This follows earlier threats by the president to impose 30% tariffs on most imports from the EU, the U.S.’s biggest trading partner.
Markets were already on a strong footing. The S&P 500 touched new intraday highs on Friday, ending the week up 1.5%. Major indices finished the week on a strong note, thanks to solid corporate earnings and favorable trade developments. The Nasdaq 100 and the Dow Jones Industrial Average ended the week 0.9% and 1.3% higher, respectively.
The market is heading into the busiest week of earnings season. Over 150 S&P 500 companies will report results, including four of the “Magnificent Seven” tech giants. Meta (META) and Microsoft (MSFT) report on Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. Investors will watch closely for any comments on AI spending to see if this year’s big investments in cloud companies are paying off.
At the same time, the Fed will hold its two-day policy meeting, ending Wednesday. The central bank is expected to keep rates steady between 4.25% and 4.5%.
Looking ahead, several key jobs reports are on the way. The Job Openings and Labor Turnover Survey, or JOLTS data, will be released on Tuesday, followed by ADP’s payroll report on Wednesday, jobless claims on Thursday, and the July jobs report on Friday.