S&P futures experienced an uptick following the S&P 500 and Nasdaq Composite achieving yet another record, despite the absence of a substantial market rally. S&P 500 futures and Nasdaq 100 futures experienced increases of 0.25% and 0.42%, respectively. Futures associated with the Dow Jones Industrial Average experienced an increase of 91 points, reflecting a rise of 0.2%. The recent developments follow the S&P 500 and the Nasdaq Composite achieving new all-time and closing highs during Monday’s trading session, with gains being marginally observed. The broad market index achieved its 15th record close in 2025. The S&P 500 concluded the trading session slightly above the neutral point, whereas the 30-stock Dow experienced a minor decline of 0.1%. The Nasdaq concluded the trading session with an increase of 0.3%, in contrast to other indices.

The broad market index experienced initial moderate gains earlier in the day, a reaction to President Donald Trump’s announcement on Sunday regarding a trade deal with the European Union. This agreement will impose 15% tariffs on a majority of goods imported from Europe, including automobiles. The president also stated on Monday that the baseline global tariff rate will be “in the range of 15 to 20%.” Investors have seemingly overlooked the U.S.-EU trade deal; however, their focus will shift to any prospective agreements between the U.S. and other nations, including China, that may be revealed before the impending tariff deadline on Friday. High-ranking officials from the United States and China convened in Stockholm on Monday to engage in another series of discussions regarding trade matters.

Tariffs and inflation will continue to be central themes in various sectors throughout the week. The Federal Reserve is poised to announce its decision regarding interest rates on Wednesday, subsequent to its two-day policy meeting. It is anticipated that central bank policymakers will maintain interest rates within the range of 4.25% to 4.5%. This week represents a peak in the earnings season, as over 150 companies within the S&P 500 are scheduled to release their financial results. Included in this group are several companies referred to as the “Magnificent Seven,” specifically Meta Platforms and Microsoft, which are scheduled for Wednesday, alongside Amazon and Apple, set for Thursday. Additionally, UPS, Procter & Gamble, Merck, and Boeing are among several firms scheduled to report their earnings before the market opens on Tuesday.

“If we get no surprises in earnings and some dovish comments by the Fed, it’s likely we’ll see yet more new highs by the end of the week,” Louis Navellier, founder and chief investment officer at Navellier & Associates, stated in a recent note. Currently, 170 S&P 500 companies have disclosed their quarterly results, with over 83% surpassing expectations. This week presents significant economic indicators, highlighted by the Job Openings and Labor Turnover Survey (JOLTS) scheduled for Tuesday, followed by the ADP private payrolls report on Wednesday, and concluding with the weekly jobless claims on Thursday. July’s nonfarm payrolls, scheduled for release on Friday, represent a significant indicator for market participants. Analysts surveyed by Dow Jones anticipate that the forthcoming report will indicate an increase of 100,000 jobs in July, a decline from the 147,000 jobs added in June. The unemployment rate is projected to increase marginally to 4.2% from 4.1%.