Stocks Start Week on Front Foot as Key Tests Await: Markets Wrap
(Bloomberg) — US stock futures started the week higher alongside global technology shares as investors looked ahead to earnings from Nvidia Corp. and the release of long-delayed economic data in the coming days.
Futures on the S&P 500 gained 0.6% as risk appetite improved following last week’s volatility. Nasdaq 100 contracts rose 1%, while a key Asia tech gauge advanced. Bitcoin rebounded after erasing its year-to-date gains.
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Traders are bracing for a busy week that features results from artificial-intelligence bellwether Nvidia Corp. on Wednesday, after a period in which questions over lofty AI-related valuations hung over markets. Earnings from retail heavyweights including Home Depot Inc. and Walmart Inc. will also provide insight into the health of consumers.
The week will further bring a resumption of US economic data releases, including September’s jobs report on Thursday. Government funding resumed only days ago following the longest shutdown in history, leaving agencies playing catch-up on key October reports covering employment and inflation.
“Despite being dated, the September US payrolls matter as delayed data has left uncertainty for markets and policymakers,” said Ulrich Urbahn, head of multi-asset strategy and research at Berenberg. “The report will help clarify economic momentum and Fed rate cut expectations.”
The US benchmark has jumped since its April slump. But those gains have been confined to fewer shares as sentiment and technical indicators showed signs of overheating, leading Wall Street chiefs to note the possibility of a retreat as a healthy development.
“Tech will be a rollercoaster for a while, rocking between bulls and bears,” said Xin-Yao Ng, a fund manager at Aberdeen Investments. Technology stocks and those related to AI are likely to continue to give an optimistic outlook in terms of forward guidance, he said.
The Fed will also release minutes from its Oct. 28-29 meeting, shedding light on an unusual split among policymakers after the FOMC cut rates by a quarter-point. Last week, traders pushed the odds of a quarter-point rate cut in December below 50% as some officials indicated that such a move is far from a sure thing.
“I do believe that the Fed still has the potential to cut in December, but that brings volatility,” said Adrian Zuercher, co-head of Global Asset Allocation at UBS Global Wealth Management, in a Bloomberg TV interview. “But overall, I do think markets are quite healthy and could actually go further up from here.”
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 was little changed as of 8:31 a.m. London time S&P 500 futures rose 0.6% Nasdaq 100 futures rose 1% Futures on the Dow Jones Industrial Average rose 0.2% The MSCI Asia Pacific Index fell 0.1% The MSCI Emerging Markets Index rose 0.2% Currencies
The Bloomberg Dollar Spot Index was little changed The euro fell 0.1% to $1.1605 The Japanese yen fell 0.1% to 154.77 per dollar The offshore yuan fell 0.1% to 7.1074 per dollar The British pound was little changed at $1.3167 Cryptocurrencies
Bitcoin rose 2.6% to $95,844.23 Ether rose 4% to $3,195.72 Bonds
The yield on 10-year Treasuries declined two basis points to 4.13% Germany’s 10-year yield declined one basis point to 2.71% Britain’s 10-year yield declined one basis point to 4.56% Commodities
Brent crude fell 0.6% to $64.02 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.
–With assistance from Macarena Muñoz.
©2025 Bloomberg L.P.
