U.S. stock index futures rose slightly on Sunday evening, taking some relief from White House officials stating that more trade talks with China will take place in the coming days to stem a potential escalation in their trade war.
Focus was squarely on a host of upcoming third-quarter earnings this week, with Tesla and Netflix set to report in the coming days.
S&P 500 Futures rose slightly to 6,704.75 points, while Nasdaq 100 Futures rose 0.1% to 25,0307.25 points by 19:53 ET (23:53 GMT). Dow Jones Futureswere flat at 46,385.0 points.
Futures rose after a positive Friday session on Wall Street, as markets were encouraged by President Donald Trump stating that higher trade tariffs against China were unsustainable. His comments spurred hopes for a deescalation in trade tensions between the world’s largest economies.
But uncertainty over a potential credit crunch in regional U.S. banks limited overall gains in Wall Street, which faced increased volatility at record highs in recent weeks.
Wall St cheered by hopes of US-China trade deescalation
Wall Street indexes closed higher on Friday after Trump said that a prolonged tariff exchange with China was likely to be unsustainable. Trump also confirmed he will meet Chinese President Xi Jinping in South Korea in two weeks.
Separately, Treasury Secretary Scott Bessent said he expects to meet with Chinese officials in Malaysia this week to dial down a recent escalation in trade tensions.
Heightened U.S.-China tensions had battered Wall Street earlier in October, with stock benchmarks falling from record highs after Trump threatened to impose 100% tariffs against China, drawing a sharp rebuke from Beijing.
But Wall Street found some relief as Trump tempered his rhetoric. The S&P 500 rose 0.5% to 6,664.01 points, while the NASDAQ Composite rose 0.5% to 22,679.98 points on Friday. The Dow Jones Industrial Average rose 0.5% to 46,190.61 points.
Wall Street also logged mild weekly gains, although these were limited by growing concerns over the credit health of regional U.S. banks.
Tesla, Netflix to headline Q3 earnings this week
A host of Wall Street majors are set to report their third-quarter earnings this week, with streaming giant Netflix Inc (NASDAQ:NFLX) due on Tuesday, while electric vehicle maker Tesla Inc (NASDAQ:TSLA) will report on Wednesday.
Others, including GE Aerospace (NYSE:GE), Coca-Cola Co (NYSE:KO), Philip Morris International Inc (NYSE:PM), Rtx Corp (NYSE:RTX), General Motors Company (NYSE:GM), Lockheed Martin Corporation (NYSE:LMT), and Texas Instruments Incorporated (NASDAQ:TXN), will report earnings in the coming days.
Focus will be squarely on whether corporate profits persevered amid some disruptions from trade tariffs and a cooling labor market. Markets are seeking more cues on the U.S. economy after an ongoing government shutdown delayed the release of several key economic readings.
Major Wall Street banks clocked positive third-quarter earnings last week, offering markets some support.
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