U.S. stock futures trended higher early Monday as investors prepared for a busy week of major earnings reports. Tesla (TSLA), set to report on Wednesday, will be the first of the “Magnificent Seven” to post quarterly results, drawing close attention from Wall Street. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.21%, 0.28%, and 0.48%, respectively, at 4:58 a.m. EDT on October 20.
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U.S. stocks ended a volatile week on a positive note, lifted by strong earnings and easing concerns over regional banks. Optimism also grew after President Donald Trump signaled progress toward a potential trade deal with China. For the week, the DJIA rose 1.56%, the SPX gained 1.70%, and the Nasdaq 100 advanced 2.46%.
The Q3 earnings season is now in full swing, with a packed lineup of major companies set to report this week. Key names on the calendar include Netflix (NFLX), Coca-Cola (KO), GE Aerospace (GE), General Motors (GM), Lockheed Martin (LMT), IBM (IBM), Thermo Fisher (TMO), AT&T (T), Lam Research (LRCX), Intel (INTC), and Blackstone (BX), among others.
Looking ahead, all eyes will be on the September Consumer Price Index, set for release on Friday, October 24. Traders will be watching closely amid the ongoing data blackout caused by the government shutdown.
Meanwhile, the U.S. 10-year Treasury yield was slightly up, floating near 4.02%. WTI crude oil futures were trending lower, hovering near $60.89 per barrel as of the last check. Also, the Gold Spot U.S. Dollar Price fell to nearly $4,259.57 per ounce, as of this writing.
Elsewhere, European markets opened the week on a stronger note, rebounding after sharp losses on Friday. Sentiment improved as worries about U.S. banking credit eased, while reports that President Trump is looking to ease trade tensions with China further lifted investor confidence.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets ended higher today as investors assessed the latest economic data from China. The country’s GDP grew 4.8% year over year in the July–September quarter, matching analysts’ expectations from a Reuters poll.
Meanwhile, Hong Kong’s Hang Seng Index ended higher by 2.42%. In China, the Shanghai Composite gained 0.63%, and the Shenzhen Component closed higher by 0.98%. Japan’s Nikkei rose 3.37%, and the Topix closed higher by 2.46%.
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