FX.co ★ US Futures Edge Higher After Record Closes

U.S. stock futures experienced a slight uptick on Tuesday following Wall Street's surge to unprecedented peak levels during the previous trading session. Investors are now closely monitoring significant developments, including earnings reports from major tech corporations, a policy announcement from the Federal Reserve, and progress on a prospective U.S.-China trade agreement. On Monday, the Dow Jones Industrial Average increased by 0.71%, while the S&P 500 and Nasdaq Composite saw gains of 1.23% and 1.86%, respectively. These positive movements stemmed from the announcement that the U.S. and China have reached a preliminary agreement for a trade deal, set to be finalized by Presidents Trump and Xi, which addresses issues such as rare earth export controls, soybean purchases, and the operation of TikTok in the U.S. Concurrently, the Federal Reserve is anticipated to implement a 25 basis point cut in interest rates on Wednesday, with market participants keenly observing for indications of another potential rate cut in December. In the corporate arena, Amazon has announced the commencement of layoffs starting Tuesday, representing the largest workforce reduction in the company's history. Highly awaited earnings reports from industry giants including Apple, Amazon, Alphabet, Meta, and Microsoft are expected later this week.