Stock Futures Rise Ahead of Mag 7 Earnings, Fed Decision

Stocks are about to enter the final week of October. (NYSE)

Key Points

• Stock futures rose Sunday, with Dow Jones Industrial Average futures up 0.6%, S&P 500 futures up 0.7%, and Nasdaq futures up 0.9%.
• A U.S.-China trade deal framework was reached, potentially averting 100% tariffs on Chinese goods threatened for November 1.
• This week includes earnings reports from Microsoft, Meta Platforms, Alphabet, Apple, and Amazon, plus the Federal Reserve’s rate decision.

Stock futures were gaining on Sunday, setting markets up for gains heading into the final week of October, with a slew of company earnings reports on tap and the Federal Reserve’s latest interest rate decision on Wednesday.

After 6 p.m. Eastern time Sunday, Dow Jones Industrial Average futures were up 0.6% or 290 points while S&P 500 futures were up 0.7%, and Nasdaq futures were up 0.9%.

On Sunday, Treasury Secretary Scott Bessent said the U.S. negotiating team had reached the framework of a deal on trade with China, which would likely cancel President Donald Trump’s threat to add 100% tariffs on Chinese goods on Nov. 1.

Arriving at the framework after two days of talks between senior officials from both sides sets the stage for Thursday’s meeting between Trump and China’s President Xi Jinping in South Korea.

Wedbush analyst Dan Ives said Sunday that news of the framework, and the potential for a broader deal with China were bullish signs for markets and for tech stocks in particular.

This week features earnings from five of the Magnificent Seven: Microsoft , Meta Platforms , and Google’s Alphabet report on Wednesday, and Apple and Amazon follow on Thursday.

In addition, the Fed will release its interest rate decision at 2 p.m. Eastern time on Wednesday and follow that up with a press conference by Chair Jerome Powell.

The Dow closed Friday above3 47,000 for the first time, marking another record high for the year. The S&P 500 and Nasdaq also finished the week with record closing highs.

Write to Liz Moyer at liz.moyer@barrons.com