US stock futures moved higher on Monday morning as investors tried to bounce back after last week’s sharp declines. Markets faced pressure from weak job numbers and renewed trade tensions, but Wall Street seemed ready to push ahead.
Futures tied to the S&P 500 went up by 0.6%, while Nasdaq 100 futures rose 0.7%. Dow Jones futures also climbed 0.5%.
These gains came after all three major indexes posted their worst weekly drops in months.On Friday, the S&P 500 fell by 2.4%, the Dow declined by 2.9%, and the Nasdaq dropped by 2.2%. This marked the sharpest weekly decline since spring.
The market downturn came after a weaker-than-expected jobs report for July, which revealed that fewer new jobs were added than economists had predicted. Also, previous reports were revised lower, changing the picture of how strong the job market really is. In response, President Trump criticized the Bureau of Labor Statistics and removed its commissioner.
There’s also renewed focus on Trump’s ongoing conflict with the Federal Reserve. While the Fed has held interest rates steady for five straight meetings, the weak jobs data has increased chances of a rate cut in September. Nearly 90% of traders are now expecting a cut.
At the same time, new tariffs announced by Trump are starting to worry investors. The new measures, which apply to many global trade partners, range from 10% to 41%. These are expected to push up prices and add to inflation.
Tesla shares went up about 2% in early trading after news broke that CEO Elon Musk received 96 million shares in stock awards, worth nearly $29 billion.
Meanwhile, earnings season is still going strong. More than 100 companies in the S&P 500 are set to report results this week, including Palantir, Eli Lilly, and Disney.
