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Stock futures pointed sharply higher Monday, led by chipmaker and tech shares, on optimism that the U.S. and China would strike a trade deal, with President Donald Trump and Chinese leader Xi Jinping set to meet later this week.
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Dow Jones, S&P, Nasdaq, Wall Street Futures Edge Higher on US–China Trade Progress and Earnings Momentum
U.S. stock futures traded higher early Monday, supported by optimism around trade negotiations between the United States and China, alongside expectations of a pivotal week packed with major earnings and central bank decisions.
At the time of this writing, the financial stock is up 20% year-to-date compared to 15% for the S&P 500 (SNPINDEX: \^GSPC) -- putting the Dow Jones Industrial Average (DJINDICES: \^
The S&P 500 and Nasdaq Composite closed higher on Thursday as EV maker Tesla had its best day in a decade, while the Dow Jones Industrial Average extended its losing streak to four days.
The Dow Jones Industrial Average was on track Friday to finish above 47,000 for the first time following what is set to be its best weekly showing since early July, Dow Jones Market Data showed. The Dow was up 926.
US stock futures extended their rally on October 26, driven by investor optimism over anticipated Federal Reserve interest rate cuts and easing US-China trade tensions. Major indexes climbed, with technology stocks leading gains ahead of key earnings reports.
NASDAQ tested new highs as traders focused on dovish Fed policy outlook. Dow Jones climbed above the 47,000 level.
Treasury Secretary Scott Bessent offered rough outlines of an agreement that include China easing rare earth export restrictions and buying “significant” amounts of U.S. soybeans in exchange for President Donald Trump removing his threat of adding 100% tariffs on China.
The relatively quiet trading came as the floodgates open for companies reporting how much they made during the summer.
Major stock indexes hit record highs Friday after the release of slightly cooler-than-expected September inflation data that reinforced expectations the Federal Reserve will cut interest rates next week.