It's Monday, and Wall Street is waking up to a familiar mix of geopolitical headlines and corporate drama. U.S. stock futures are pointing higher across the board, with the Dow Jones, S&P 500, and Nasdaq 100 all set to open in the green. The mood was lifted by President Donald Trump's decision to call off a planned strike on Iran, saying negotiations would begin Monday after he halted what he described as a "massive attack."
Investors have a busy week ahead, with a heavy slate of economic updates and quarterly earnings on tap. Key releases include July's nonfarm payrolls report, ISM manufacturing and services PMI readings, and a slew of other data points that will shape the Fed's next move.
On the corporate front, all eyes will be on Space Exploration Technologies Corp. (NASDAQ: SPCX) as it issues its first-ever quarterly results as a public company on Tuesday. Also reporting are chipmaker Advanced Micro Devices Inc. (NASDAQ: AMD) and media giant Walt Disney Co. (NYSE: DIS).
Meanwhile, the 10-year Treasury yield is sitting at 4.69%, with the two-year at 4.25%. According to the CME Group's FedWatch tool, markets are pricing in a 64.5% chance that the Federal Reserve will hike interest rates at its September meeting. That's a notable shift, and it's something to keep in mind as the data rolls in.
The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were both higher in premarket trading. SPY was up 0.45% at $750.36, while QQQ advanced 0.43% to $690.93.
Atkore
- Atkore Inc. (NYSE: ATKR) surged 26.10% as it announced that it has entered into a definitive agreement to be acquired by Prysmian S.p.A. in an all-cash transaction representing an enterprise value of approximately $3.8 billion.
- MarketDash's Edge Stock Rankings indicate that ATKR maintains a weak price trend in the short and medium terms but a strong trend in the long term, with a poor growth score.
Alibaba Group Holding
- Alibaba Group Holding Ltd. ADR (NYSE: BABA) gained 4.41% as it launched the Qwen3.8-Max AI model to rival tech competitors.
- MarketDash's Edge Stock Rankings indicate that BABA maintains a weak price trend in the long and medium terms but a strong trend in the short term, with a good value score.
Boeing
- Boeing Co. (NYSE: BA) was 0.54% higher after it delivered Somon Air's first 737 MAX, a 737-8 leased from Dubai Aerospace Enterprise (DAE), marking the first 737 MAX operating in Tajikistan. The jet is the first of two 737-8s and will support Somon Air's fleet renewal and network expansion.
- MarketDash's Edge Stock Rankings indicate that BA maintains a strong price trend in the long, short, and medium terms, with a poor value score.
Palantir Technologies
- Palantir Technologies Inc. (NASDAQ: PLTR) was 2.57% higher as analysts expect it to report earnings of 33 cents per share on revenue of $1.81 billion, after the closing bell.
- MarketDash's Edge Stock Rankings indicate that PLTR maintains a weak price trend in the short, long, and medium terms, with a good growth score.
Cues From Last Session
Consumer discretionary and communication services stocks led gainers, while materials, utilities, and real estate saw the largest losses on Friday as U.S. equities ended higher, driven by Amazon.com Inc.'s (NASDAQ: AMZN) sharp rise lifting the Nasdaq Composite 1%.
Insights From Analysts
Mohamed El-Erian expects the U.S. stock market and economy to navigate a complex landscape defined by structural shifts, persistent long-term yields, and ongoing market volatility.
While El-Erian believes "the worst of the recent deleveraging—particularly in tech—is behind us," he warns that investors "will continue to face a market characterized by both volatility and dispersion on account of complex domestic and international factors."
He highlights that massive capital demand for AI infrastructure alongside large government deficits will keep pressure on bond yields, noting that "the sources and uses of funds simply do not align except at higher yields."
For economic momentum, El-Erian emphasizes that U.S. growth will depend on three central pillars: "the continued trajectory of AI spending, the resilience of the US consumer, and the economy's ability to ward off volatility-inducing shocks."
Furthermore, he expects the Federal Reserve to focus on "restoring its policy optionality" rather than offering rigid forward guidance. Ultimately, El-Erian stresses that navigating these macro cross-currents will require "a mix of agility and resilience" and an "appreciation for fundamental paradigm shifts" to drive future financial returns.
Upcoming Economic Data
Here's what investors will be keeping an eye on this week.
- On Monday, July's U.S. manufacturing PMI data will be released by 9:45 a.m., while July's ISM manufacturing PMI and June's construction spending data will be out by 10:00 a.m. ET.
- On Tuesday, June's trade balance data will be released by 8:30 a.m., followed by June's JOLTS job openings and June's factory orders data at 10:00 a.m. ET.
- On Wednesday, July's ADP national employment report will be out by 8:15 a.m., July's U.S. services PMI will be released by 9:45 a.m., and July's ISM services PMI data will be available at 10:00 a.m. ET.
- Federal Reserve Governor Lisa Cook will speak at 4:05 p.m. ET.
- On Thursday, preliminary second-quarter productivity and costs data, along with initial jobless claims for the week ending Aug. 1, will be released by 8:30 a.m. ET.
- June's monthly wholesale trade data will be out by 10:00 a.m. ET.
- On Friday, July's nonfarm payrolls employment report, unemployment rate, and hourly earnings data will all be released by 8:30 a.m. ET.
- June's consumer credit data will be out by 3:00 p.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading lower in the early New York session by 5.68% to hover around $79.86 per barrel.
Gold Spot US Dollar rose 0.31% to hover around $4,055.02 per ounce. The U.S. Dollar Index spot was 0.10% lower at the 99.8100 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.62% lower at $62,292.01 per coin over the last 24 hours.
Asian markets closed mixed on Monday, as Japan's Nikkei 225, South Korea's Kospi, and China's CSI 300 indices fell. Hong Kong's Hang Seng, India's Nifty 50, and Australia's ASX 200 indices surged. European markets were mostly higher in early trade.
