S&P 500 and Nasdaq futures surged to new record highs on Monday, driven by easing trade tensions and a strong rally in tech stocks, lifting overall market sentiment.
Canada’s decision to cancel its proposed digital services tax on U.S. tech firms sparked optimism about a potential broader trade agreement with the U.S., giving global equities an added boost.
Tech heavyweights including Amazon, Meta, Alphabet, and Apple rose as much as 1.7% in premarket trading, fueled by ongoing enthusiasm for artificial intelligence and growing expectations of a potential Federal Reserve rate cut later this year.
Investors are closely watching a wave of key economic data scheduled for this week, including wage growth figures, the ISM manufacturing index, and a speech from Fed Chair Jerome Powell — all of which could shape near-term policy expectations.
Bank stocks also gained ground following the Federal Reserve’s stress test results, which pointed to solid financial stability across major institutions. Meanwhile, Juniper Networks jumped 8.4% after its $14 billion acquisition deal by Hewlett Packard Enterprise cleared legal hurdles.