U.S. stock futures rose on Monday following Friday’s positive moves. Futures of major benchmark indices were higher.
Investors are eyeing multiple developments this week, which include the earnings report of five firms among the Magnificent 7 constituents. Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), and Meta Platforms Inc. (NASDAQ:META) will announce results on Wednesday, whereas Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc. (NASDAQ:AMZN) will report on Thursday.
The Federal Reserve Open Market Committee will announce its decision on interest rates on Wednesday, and President Donald Trump will meet his Chinese counterpart, Xi Jinping, on Thursday in South Korea to finalize the deal framework reached by both sides to avert the looming 100% additional tariff threat.
The 10-year Treasury bond yielded 4.03% and the two-year bond was at 3.50%. The CME Group's FedWatch tool’s projections show markets pricing a 96.7% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
0.56%
S&P 500
0.78%
Nasdaq 100
1.14%
Russell 2000
1.03%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.79% at $682.528, while the QQQ advanced 1.26% to $624.85, according to Benzinga Pro data.
Stocks In Focus
Avidity Biosciences And Novartis
Avidity Biosciences Inc. (NASDAQ:RNA) surged 42.56% in premarket on Monday after Novartis AG (NYSE:NVS), which was down 1.04%, decided to acquire the former for $12 billion to strengthen its late-stage neuroscience pipeline and expand its RNA therapeutics portfolio.
RNA maintained a stronger price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings. Additional performance details are available here.
Plymouth Industrial REIT
Plymouth Industrial REIT Inc. (NYSE:PLYM) was 1.45% lower as it agreed to be acquired by Makarora Management LP, along with Ares Alternative Credit Funds, in an all-cash transaction valued at around ...
