Wall Street futures climbed Monday as a trade agreement between the U.S. and the European Union boosted sentiment at the start of a week packed with megacap earnings, a Federal Reserve meeting and a U.S. tariff deadline.
U.S. President Donald Trump and European Commission President Ursula von der Leyen announced a framework trade pact on Sunday, which will halve the import tariff rate on the EU to 15%.
At 5:32 a.m. ET, S&P 500 E-minis were up 18.75 points, or 0.29%, Nasdaq 100 E-minis were up 113.5 points, or 0.48% and Dow E-minis were up 85 points, or 0.19%.
The anticipation of the imminent U.S.-EU deal propelled the S&P 500 and the Nasdaq to record closing highs on Friday, while the blue-chip Dow remained about 0.4% away from its all-time high hit in December.
A flurry of deals with U.S. trade partners, including Japan, Indonesia and the Philippines, helped drive Wall Street to new highs, with all the major indexes posting solid gains last week.
Other major economies are still scrambling to strike deals ahead of President Donald Trump’s August 1 deadline. The Sino-U.S. negotiations later in the day are expected to extend their trade truce for another 90 days.
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Author: Dillon B
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