US stock futures made gains Monday as Wall Street regrouped amid a slew of fresh headwinds, including disappointing labor data and continuing trade uncertainty.
Futures tied to the S&P 500 (ES=F) climbed 0.6% as contracts on the Nasdaq 100 (NQ=F) rose 0.7%. Dow Jones Industrial Average futures (YM=F) moved up 0.5%.
The moves follow a sharp pullback on Wall Street on Friday. All three major indexes posted their worst weekly declines in months, ending a run of positive market moves. The S&P 500 (^GSPC) fell 2.4%, marking its steepest drop since late May. The Dow (^DJI) slumped 2.9% in its worst week since early April, while the Nasdaq Composite (^IXIC) shed 2.2%.
The declines were exacerbated Friday after July’s jobs report came in weaker than expected, and previous months’ tallies were revised sharply lower, flipping the narrative on the labor market’s strength. It led President Trump to lash out at the Bureau of Labor Statistics (BLS), which publishes the monthly jobs report, and fire its commissioner.
Trump’s battle with the Fed and Chair Jerome Powell has also remained in focus. Traders tempered expectations around interest rate policy following the bank’s decision last week to leave rates unchanged for a fifth consecutive meeting. But after the weak jobs data, almost 90% of bets are on a cut in September.
At the same time, investors are examining fallout from Trump’s implementation of tariffs. The updated tariffs set to come into full effect this week range from 10% to 41% on a wide range of trading partners and raise concerns about rising costs amid broader inflationary pressures.
Meanwhile, Tesla (TSLA) stock edged higher on Monday before the bell by 2% after reports emerged that the company had granted CEO Elon Musk 96 million shares worth about $29 billion.
Read more: The latest on Trump’s tariffs
Earnings season continues to roll on with a busy week of corporate releases. Over 100 S&P 500 companies are set to report, with spotlights on Palantir (PLTR), Eli Lilly (LLY), and Disney (DIS).
LIVE 6 updates
