US stock futures edged higher on Monday, setting up the major indexes for more records to end one of the most volatile first halves of a year in recent memory.
Dow Jones Industrial Average futures (YM=F) rose around 0.5%. Contracts on the S&P 500 (ES=F) gained 0.3%, while those on the tech-heavy Nasdaq 100 (NQ=F) added roughly 0.5%.
Several of Trump’s economic agenda items are in focus this week. A July 9 deadline looms before the possible resumption of Trump’s unilateral tariffs, which Trump on Sunday said he didn’t think he’d “need to” extend.
On the trade front, India has extended its Washington visit to finalize a deal. Administration officials last week confirmed a trade framework with China was in place, bolstering investor sentiment despite a late-Friday dip triggered by Trump’s abrupt halt to talks with Canada, citing its digital tax policy. Canada scrapped its digital services tax targeting US technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations.
Meanwhile, market watchers are closely following Senate negotiations over Trump’s proposed $4.5 trillion tax cut bill. The Congressional Budget Office estimates it would add $3.3 trillion to the deficit over a decade.
For the market, June’s gains have been substantial, fueled by optimism surrounding global trade and easing fears over tariffs. The S&P 500 (^GSPC) is up over 4%, the Nasdaq Composite (^IXIC) has surged over 5.5%, and the Dow (^DJI) has climbed 3.5%.
On Friday, all three major indexes closed higher, with the S&P 500 and Nasdaq reaching new record highs for the first time since February — the start of the year’s tariff-fueled stock swings. All three major indexes are up at least 3% so far this year.
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