US stock futures rose on Monday, as markets entered a critical week defined by megacap earnings and continued risk around President Trump’s looming tariffs.
Contracts on the S&P 500 (ES=F) and on the tech-heavy Nasdaq 100 (NQ=F) both climbed about 0.3%. Dow Jones Industrial Average futures (YM=F) were also up 0.3%.
Stocks are poised to build on last week’s record-setting rally in growth names, which saw the Nasdaq Composite (^IXIC) put on 1.5%, while the S&P 500 (^GSPC) added 0.6%. But the Dow lagged, finishing slightly negative.
This week sees investor focus dominated by two topics: Clarity on US trade policy as the implementation of tariffs looms, and earnings from tech heavyweights as Wall Street eyes record-high market valuations.
On the trade front, Commerce Secretary Howard Lutnick reaffirmed that White House’s Aug. 1 deadline for new tariffs, calling it a “hard stop” for compliance — before saying that he’s looking at continued conversation beyond that date.
Read more: The latest on Trump’s tariffs
While EU is open to an unbalanced US trade deal to break a deadlock before that deadline, its officials are also stepping up preparations to retaliate if no agreement is reached, per Bloomberg.
As for earnings, the season shifts into high gear with Alphabet (GOOG) and Tesla (TSLA) set to release updates on Wednesday — first of the “Magnificent Seven” to report for the second quarter. Strong results could validate stretched valuations as the market’s focus on AI growth is beginning to attract comparisons to historic tech bubbles.
Read more: Full earnings coverage in our live blog
Monday brings quarterly reports from Verizon Communications (VZ), Cleveland-Cliffs (CLF), and Domino’s Pizza (DPZ).
Of the 59 S&P 500 companies that have already released results, 86% have outpaced Wall Street consensus estimates. That is a historically strong beat rate, albeit off modest expectations.
The data docket brings the Leading Economic Index print for June on Monday. The data will be closely watched for signs of deceleration or stabilization following a string of weak reads.
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