Stock Market Surge: U.S. Futures Hit Records Amid Trade Deal Hopes

U.S. stock index futures surged to new highs, driven by anticipated trade negotiations between the U.S. and China. The prospect of rate cuts by the Federal Reserve also boosted markets. Wall Street looks to Big Tech earnings for further clues on market trends.

Stock markets soared early this week as U.S. stock index futures reached record levels. The rally was spurred by the anticipation of a potential trade deal between the United States and China, as well as impending interest rate cuts by the Federal Reserve, set to be announced this week.

Investors closely followed developments ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, hoping for a breakthrough in tariff negotiations. Meanwhile, shares in U.S.-listed Chinese companies like Alibaba and JD.com rose, reflecting market confidence.

Big Tech earnings are under the microscope as over 170 firms are set to report results. Analysts are particularly interested in updates from major players like Microsoft and Apple, which make up a significant portion of the S&P 500. Third-quarter earnings are projected to grow significantly, reinforcing market optimism.

(With inputs from agencies.)