U.S. Stock Index Futures Surge

(Reuters) – U.S. stock index futures surged on Monday, poised to recoup some losses from a turbulent trading week as investors prepared for key corporate earnings and the final phase before the Nov. 5 presidential election.

• Dow E-minis were up 203 points, or 0.48%.
• U.S. S&P 500 E-minis were up 35 points, or 0.60%.
• Nasdaq 100 E-minis were up 160.5 points, or 0.78%.

The main focus is on the week ahead, particularly corporate results, with around 169 S&P 500 companies scheduled to report results, including the majority of the "Magnificent Seven" technology giants that have driven Wall Street's performance this year.

Premarket Stocks Performance:
– Alphabet (NASDAQ:GOOGL) rose 1.6%
– Meta Platforms (NASDAQ:META) was up 1.3%
– Microsoft (NASDAQ:MSFT) increased by 1%
– Apple (NASDAQ:AAPL) gained 0.7%
– Amazon.com (NASDAQ:AMZN) added 0.9%
– Nvidia (NASDAQ:NVDA) rose 1.3%, briefly becoming the world's most valuable company ahead of its peers due to increased investor enthusiasm for AI stocks.

Markets seemed largely unfazed by rising Treasury yields. The yield on the benchmark 10-year U.S. Treasury note jumped to 4.292%, last seen over three months ago, as investors anticipate a less dovish Federal Reserve, reflecting continued strength in the U.S. economy.

This week's economic data will be crucial, including the Personal Consumption Expenditures index, the first release of third-quarter GDP data, and the nonfarm payrolls report.

Investors largely expect a 25-basis-point rate reduction at the U.S. central bank's next meeting, according to CME's FedWatch. Analysts at ING acknowledged that while they favor further cuts, this week's data might not significantly influence the expectations for remaining Fed easing.

Investors are also focused on the Nov. 5 U.S. presidential election, with markets pricing in a potential second Donald Trump administration. Futures tracking the economically sensitive small-cap Russell 2000 gained 0.5%.