Dow, S&P 500, Nasdaq futures climb with Fed, Big Tech earnings, Trump-Xi meeting ahead

U.S. stock futures rose Sunday evening as Wall Street braced for a big week featuring an expected rate cut by the Federal Reserve, a flurry of big tech earnings and a long-awaited meeting between President Trump and Chinese President Xi Jinping.

S&P 500 futures (ES=F) gained about 0.7%, while Nasdaq 100 futures (NQ=F) gained 0.9%. Dow Jones Industrial Average futures (YM=F) rose nearly 300 points, or 0.6%.

The optimism comes after a banner week on Wall Street, with all three major indexes closing at record highs on Friday. The Dow jumped 472 points to finish above 47,000 points for the first time. The S&P 500 gained 0.8%, approaching the 6,800 level, while the Nasdaq Composite rose more than 1%.

Following cooler-than-expected inflation data from the Consumer Price Index (CPI) release, which was delayed due to last week’s government shutdown, markets are almost certain the Fed will cut interest rates at a meeting of policymakers this week.

Investors are also eyeing a high-stakes meeting between Trump and Xi in South Korea on Thursday, where weekend discussions could pave the way for a potential trade breakthrough. “I believe we have arrived at a very important framework” for a broader trade agreement, Treasury Secretary Scott Bessent said Sunday. The Chinese side also welcomed the “preliminary consensus” reached during the weekend talks. That optimistic tone has raised hopes that the world’s two largest economies can avoid a deeper trade war after rising tensions in recent weeks.

Meanwhile, the earnings focus has shifted to Silicon Valley. Some of the “Magnificent Seven” will report third-quarter results this week, including Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), and Meta (META).

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