U.S. Stock Futures Steady as Markets Await Fed Meeting and Key Earnings

U.S. stock futures traded flat Monday evening following record closes for the S&P 500 and Nasdaq, as enthusiasm over the recent U.S.–EU trade agreement began to ease. Futures for the S&P 500 rose 0.1% to 6,426.50 points, Nasdaq 100 futures gained 0.2% to 23,526.75 points, while Dow Jones futures hovered near 45,000 points.

The muted movement comes ahead of a pivotal week for economic data and corporate earnings. Investors are closely watching the Federal Reserve’s two-day policy meeting starting Tuesday, with interest rates expected to remain at 4.25%–4.5%. Markets will seek clues on potential rate cuts later this year. Key U.S. data releases, including the PCE price index, job openings, and the July employment report, will also guide sentiment.

The weekend’s trade deal between Washington and Brussels, which imposes a 15% tariff on European goods entering the U.S., offered temporary relief but shifted focus back to upcoming macroeconomic catalysts. Talks between U.S. and Chinese officials in Stockholm further signaled efforts to extend their tariff truce by three months, while analysts highlighted the need for future agreements with Asian markets like South Korea, Taiwan, and India.

Earnings season intensifies with over 150 S&P 500 companies reporting this week. Tech giants Meta and Microsoft will release results Wednesday, followed by Apple and Amazon on Thursday. Investors are particularly interested in guidance on artificial intelligence spending, as major hyperscalers continue heavy investment in the sector.

Market volatility is expected to rise as traders balance trade developments, central bank policy, and earnings from the so-called “Magnificent Seven” stocks, which have driven much of this year’s market gains.