U.S. stock futures were little changed Monday evening after the S&P 500 and Nasdaq notched fresh record highs, as investors were confident of a Federal Reserve interest rate cut later this week and cheered positive signs from U.S.-China trade talks.
S&P 500 Futures were largely unchanged at 6,676.50 points, while Nasdaq 100 Futures traded flat at 24,543.0 points by 20:14 ET (00:14 GMT). Dow Jones Futures ticked 0.1% lower to 46,240.0 points.
S&P 500, Nasdaq hit record highs ahead of Fed decision
In the regular session on Monday, the S&P 500 closed up 0.5%, touching a new record of 6,619.62 points..
The NASDAQ Composite jumped nearly 1% to about 22,352.25 points, also reaching record levels, while the Dow Jones Industrial Average ticked up 0.1%
Fed rate expectations were driving much of the rally. Markets are almost certain that the Federal Open Market Committee (FOMC) will cut its policy rate by 25 basis points at the end of its meeting on September 16–17.
Investors are also parsing how dovish the Fed’s statement will be, particularly whether it signals this will be the beginning of a series of cuts rather than a one‐off.
Supporting risk appetite was a fresh wave of optimism in U.S.-China trade negotiations.
President Donald Trump posted on Monday that the “big Trade Meeting in Europe … has gone VERY WELL!”
He added that “a deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save. They will be very happy!” referring to TikTok.
Treasury Secretary Scott Bessent confirmed that a framework deal was reached for TikTok’s U.S. ownership in talks held in Madrid, with a call between Trump and Chinese President Xi Jinping slated for Friday to finalize details.
Tesla shares rise; Nvidia under pressure from China’s probe
Tesla Inc (NASDAQ:TSLA) shares climbed 3.6% on Monday after Elon Musk disclosed acquiring nearly $1 billion of Tesla stock.
Google parent Alphabet (NASDAQ:GOOGL) shares jumped 4% , hitting a record high and crossing the $3 trillion market capitalization threshold, helping lift the tech sector.
Nvidia (NASDAQ:NVDA) shares ended largely unchanged after China’s market regulator indicated it would continue an investigation after preliminary findings showed it had violated the country’s anti-monopoly law.
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