U.S. stock futures gained on Monday, continuing the momentum from Friday’s rally. Futures of major benchmark indices were in the green in premarket trading, pointing to rising bullish sentiments among investors.
The markets will look towards the Trump administration’s actions closely this week – reports suggest that the government could limit the scope of the planned tariffs.
While the Trump administration is still expected to launch reciprocal tariffs against major trading partners of the U.S., critical industries like automobile and semiconductors are no longer expected to be hit by tariffs, for the time being, according to a Bloomberg report.
Futures
Change (+/-)
Nasdaq 100
1.10%
S&P 500
0.90%
Dow Jones
0.70%
Russell 2000
1.00%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF, which track the S&P 500 index and Nasdaq 100 index, respectively, gained in premarket on Monday. The SPY was up 1.06% to $569.98, while the QQQ gained 1.29% to $486.32, according to Benzinga Pro data.
Cues From Last Session:
U.S. stocks settled higher on Friday, with the S&P 500 recording slight gains during the session. The broad-market S&P 500 also reported gains last week after recording losses for four straight weeks. The Nasdaq gained 0.2%, while the Dow added 1.2% during the week.
FedEx Inc. (NYSE:FDX) shares dipped more than 6% on Friday after the company’s third-quarter adjusted EPS results missed analysts’ expectations.
Shares of Nike Inc. (NYSE:NKE) fell more than 5% on Friday after the company reported third-quarter financial results.
Most sectors on the S&P 500 closed on a negative note, with materials, real estate, and utilities stocks recording losses on Friday.
However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session higher.
Index
Performance (+/-)
Value
Nasdaq Composite
0.52%
17,784.05
S&P 500
0.082%
5,667.56
Dow Jones
0.076%
41,985.35
Russell 2000
-0.56%
2,056.98
Insights From Analysts:
Analysts sought to brush aside …Full story available on Benzinga.com
