Stock market today: Dow, S&P 500, Nasdaq futures climb with Fed, Big Tech earnings, Trump-Xi meeting ahead

US stock futures edged higher Sunday evening as Wall Street geared up for a pivotal week featuring the Federal Reserve’s expected rate cut, a barrage of Big Tech earnings, and a long-awaited meeting between President Trump and Chinese President Xi Jinping.

Futures tied to the S&P 500 (ES=F) gained about 0.7%, while Nasdaq 100 futures (NQ=F) advanced 0.9%. Dow Jones Industrial Average futures (YM=F) rose nearly 300 points, or 0.6%.

The optimism follows a banner week on Wall Street, with all three major indexes closing at record highs Friday. The Dow jumped 472 points to finish above 47,000 for the first time. The S&P 500 added 0.8% to creep closer to the 6,800 level, while the Nasdaq Composite rose over 1%.

Markets are almost certain the Fed will slash interest rates when policymakers meet this week, following cooler-than-expected inflation data last week from the government shutdown-delayed release of the Consumer Price Index (CPI).

Investors are also eyeing a high-stakes meeting between Trump and Xi in South Korea on Thursday, where weekend discussions could pave the way for a potential trade breakthrough. Treasury Secretary Scott Bessent on Sunday said “I believe we’ve reached a very substantial framework” for a broader trade deal. China’s side also hailed the “preliminary consensus” reached during the weekend talks. The upbeat tone raised hopes that the world’s two largest economies could avoid a deeper trade war after heightened tensions in recent weeks.

Meanwhile, the earnings spotlight shifts to Silicon Valley. Several of the “Magnificent Seven,” including Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), and Meta (META) are set to report third-quarter results this week.