US stock futures climbed on Monday amid rising hopes for a US-China trade deal ahead of a a long-awaited meeting between President Trump and China’s President Xi.<\/p>\n
Dow Jones Industrial Average futures (YM=F)<\/a> moved up 0.5%, or around 250 points, while those on the S&P 500 (ES=F)<\/a> jumped 0.7%. Contracts on the tech-heavy Nasdaq 100 (NQ=F)<\/a> led gains, up 1%.<\/p>\n Wall Street is in an upbeat mood as it gears up for a pivotal week<\/a> featuring the Federal Reserve\u2019s expected interest-rate cut and a barrage of Big Tech earnings, as well as Trump’s visit to Asia.<\/p>\n The optimism follows a banner week that saw all three major indexes close at record highs on Friday<\/a>. The Dow jumped 472 points to finish above 47,000 for the first time. The S&P 500 added 0.8% to creep closer to the 6,800 level, while the Nasdaq Composite rose over 1%.<\/p>\n The high-stakes meeting between Trump and Xi <\/a>on Thursday is in high focus, following heightened tensions<\/a> between their two countries in recent weeks.<\/p>\n Weekend talks are seen as paving the way for a breakthrough in the US-China standoff, after Treasury Secretary Scott Bessent on Sunday said, “I believe we’ve reached a very substantial framework” for a broader trade deal. Beijing also hailed the “preliminary consensus” reached during the weekend talks, helping ease worries about a deeper trade war.<\/p>\n Meanswhile, markets are all but certain the Fed will lower rates when it meets this week, after cooler-than-expected inflation data \u2014 the US shutdown-delayed Consumer Price Index<\/a> report \u2014 bolstered the case for easing.<\/p>\n On the earnings front, the spotlight shifts to Silicon Valley this week. Several of the “Magnificent Seven,” including Apple (AAPL<\/a>), Microsoft (MSFT<\/a>), Alphabet (GOOG<\/a>), Amazon (AMZN<\/a>), and Meta (META<\/a>) are set to report third-quarter results<\/a>.<\/p>\n LIVE 4 updates <\/p>\n Yahoo Finance’s Jake Conley<\/a> takes a look at a big week ahead:<\/p>\n Read more here<\/a>.<\/p>\n<\/li>\n Novartis has agreed to buy Avidity Biosciences for about $12 billion in cash, seeking to bolster its range of treatments for rare muscle disorders.<\/p>\n Shares in the US biotech soared over 40% in premarket after the Swiss drugmaker’s announcement.<\/p>\n Reuters reports:<\/p>\n Read more here<\/a>.<\/p>\n<\/li>\n AP finance reports:<\/p>\n\n