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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 concerns of a bear market, stating that it's not as much of a concern and that it is likely a rotational behavior.
"Statistically, this type of action is extreme and typically comes at the end of a bear market in a waterfall sell-off and not right after an all-time high. A simple reflexive rebound to the 20-day moving average would wipe out half the decline," said Ivan Martchev, investment strategist at Navellier & Associates.
Martchev pointed to a drastic decline in VIX, also known as the fear gauge index, which fell nearly 10% and 11.72% in two sessions last week.
He added that the chances of the S&P 500 making an all-time high in the second quarter this year are "better than ever," but this is contingent on President Donald Trump registering a few trade war wins.
Ryan Detrick, chief market strategist at Carson Group, brushed aside bearish concerns, too.
He pointed to the sharp 34% decline in the S&P 500 five years ago on this day due to the COVID-19-related shutdowns.
"The S&P 500 was up nearly 200% (total return) earlier this year off those lows. Remember that the next time you hear some scary headlines," he said.
Upcoming Economic Data
Here's what investors will keep an eye on this week:
Stocks In Focus:
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.75% to hover around $68.78 per barrel.
Gold futures gained 0.41% to hover around $3,060.91 per ounce.
10-year treasury yields edged up by 0.029% to hover at 4.281%.
Asian markets closed on a mixed note on Monday. While Taiwan Weighted and KOSPI fell over 0.4%, Hang Seng rose 0.90%, and Shanghai Composite edged up by 0.15%.
European markets were similarly mixed in early trade.
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