Stock futures rallied on Monday morning amid easing trade tensions between the U.S. and China, with a potential trade deal expected this week. Moreover, investors are looking forward to earnings from Big Tech companies and a potential Federal Reserve rate cut later this week. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 1.25%, 0.79%, and 0.44%, respectively, at 8:11 a.m. EDT on October 27.
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During Friday’s regular trading session, all three major indexes finished at record highs, backed by a cooler-than-expected September inflation reading, fueling expectations for further monetary easing. Investors await the Federal Reserve’s policy meeting scheduled for October 28–29, with markets pricing in at least a 25-basis-point rate cut.
Meanwhile, major earnings are scheduled this week, including quarterly reports from five of the Magnificent 7 stocks — Amazon (AMZN), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META). Other notable companies set to report this week include SoFi Technologies (SOFI), PayPal (PYPL), Visa (V), Mastercard (MA), UnitedHealth (UNH), Boeing (BA), and Starbucks (SBUX).
Coming to trending stocks, Avidity Biosciences (RNA) stock rallied about 44% in Monday’s pre-market trading on news of its acquisition by Novartis (NVS) in a $12 billion deal.
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