FX.co ★ US Futures Gain Traction

Stock futures experienced an uptick on Tuesday, buoyed by upcoming economic data and earnings reports that are likely to underscore the strength of the economy. Futures for the S&P 500 and the Dow increased by 0.3%, while the Nasdaq 100, known for its concentration in technology stocks, rose by 0.6%. Both Procter & Gamble and UnitedHealth saw little movement after releasing their financial results. However, futures for major tech firms such as Microsoft, Meta, Amazon, and Apple were generally higher, fueled by anticipation of their earnings announcements later this week. Additionally, the release of the Job Openings and Labor Turnover Survey (JOLTS) will mark the beginning of several new labor market updates this week, complementing expectations for a significant rebound in U.S. GDP. The Federal Reserve is anticipated to keep interest rates steady this week, as the strong economic environment is balanced by the inflationary pressures arising from heightened U.S. tariffs. The market has already factored in the potential for two rate cuts within the year. Regarding trade relations, the U.S. and the EU have agreed on more flexible trade policy terms to stave off a trade war for now, though concerns linger due to ongoing disagreements as they work towards a legally binding agreement.