Stock market today: Dow, S&P 500, Nasdaq futures inch up after records with key earnings, Fed meeting on deck
US stock futures made modest gains Monday evening after Wall Street kicked off the week with record closes. Investors are in for a packed few days featuring Big Tech earnings, a Federal Reserve rate decision, and a key meeting on US-China trade.
Dow Jones Industrial Average futures (YM=F) edged up roughly 0.1%, while S&P 500 (ES=F) and Nasdaq 100 (NQ=F) futures ticked slightly higher, both also rising about 0.1%.
On Monday, the S&P 500 (^GSPC) closed above the 6,800 mark for the first time ever, joining the Dow (^DJI) and Nasdaq Composite (^IXIC) at record highs. Stocks flew as tensions ease between Washington and Beijing ahead of a highly anticipated meeting between President Trump and China’s President Xi Jinping set for Thursday.
Both sides reportedly agreed on a framework for a potential trade deal that would touch on rare earth minerals, soybean purchases, and TikTok’s US operations.
Meanwhile, the Federal Reserve’s two-day policy meeting kicks off Tuesday, with traders widely expecting a second consecutive rate cut. Markets are also looking for clues from Chair Jerome Powell on whether another cut could come in December, especially as policymakers grapple with a data blackout amid the ongoing US government shutdown.
Earnings remain in high focus, highlighted in the coming days by releases from the colloquially named “Magnificent Seven” megacap tech companies. Amazon (AMZN) is in focus following the announcement that the retail behemoth will be cutting as many as 30,000 jobs from the corporate arm of the company.
Investors will also turn keen eyes to the release of earnings from Alphabet (GOOG), Apple (AAPL), Meta (META), and Microsoft (MSFT) this week.
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