Stock Market Today: Dow Futures Rise in US EU Trade Contract
Wall Street appears to start a week filled with high notes as investors support the US EU trade deal announced on Sunday.
Agreement with America’s largest trading partner It removes the important source of market uncertainty and the threat of damage from a trade war. It will also be added as an increasingly powerful story. The S&P 500 has recorded five records last week.
Futures tied to the Dow Jones industrial average rose 161 points (0.36%). S&P 500 futures increased by 0.34% Nasdaq Futures rose 0.46%.
The Treasury’s yield in 2010 was flat at 4.386%. The US dollar fell 0.12% against the euro, but remained stable against the yen.
Trump’s deal with the EU and Japan set a 15% tariff rate on both trading zones.
Gold fell 0.15% to $3,330.50 per ounce. U.S. oil prices rose 0.1% per barrel to $65.22, while Brent crude rose 0.1% to $68.51.
Investors can’t look away next week as they can generate news that moves in markets where every day is important.
High-stakes trade negotiations between Treasury Secretary Scott Bescent and China’s Deputy Prime Minister are scheduled to begin in Stockholm on Monday. That is the tariff ceasefire between the two sides is scheduled to end on August 12th, but reportedly Deadline will be extended by 90 days.
The tariff drama continues throughout the week as other countries try to reach deals with the US before the Friday deadline.
Meanwhile, Trump’s tariffs face legal challenges, with a court hearing scheduled for Thursday on whether the president has the power under the International Emergency Economic Force Act to impose broad obligations.
On Tuesday, the Federal Reserve will begin a two-day policy meeting. Analysts don’t expect the central bank to adjust the rates, but Gov. Christopher Waller has indicated he will oppose and seek cuts.
Wednesday afternoon’s Chairman Jerome Powell’s press conference will be dominated by questions relating to the White House attack on calls from Trump allies to get Powell banished due to a project’s cost overrun.
On the other hand, some closely monitored datasets provide more clues about what may or may not have an impact on the economy. Reports on consumer trust, home prices and job openings will be released on Tuesday.
ADP’s private sector pay survey, second quarter GDP data and pending home sales are scheduled for Wednesday.
On Thursday, a weekly unemployment claim and a personal consumption expenditure report including the Fed’s priority inflation gauge will be due.
Also, on Friday, the Labor Bureau’s monthly employment report, the Supply Management Institute’s manufacturing activity index, and construction costs will be the weekly data deadline.
Don’t forget your revenue. Boeing announced its quarterly results on Tuesday, followed by Microsoft on Wednesday, while Apple and Amazon report on Thursday. Oil Giants’ ExxonMobil and Chevron put out the numbers on Friday.