Stock futures were relatively unchanged on Monday on the heels of the S&P 500 and Nasdaq Composite eking out yet another record despite a market rally failing to materialize.
S&P 500 futures and Nasdaq 100 futures gained less than 0.1%. Futures tied to the Dow Jones Industrial Average climbed 0.1%.
The moves come after the S&P 500 and the Nasdaq Composite hit new all-time and closing highs during Monday’s trading session, just barely seeing gains. It was the 15th record close for the broad market index in 2025. Both indexes had hit multiple intraday and closing highs last week following the latest earnings results and trade developments. The S&P 500 ultimately finished the day just above the flatline, while Dow Jones Industrial Average ticked down by 0.1%. The Nasdaq ended 0.3% higher, by contrast.
The broad market index’s initial moderate gains earlier in the day followed President Donald Trump’s announcement Sunday that the U.S. has struck a trade deal with the European Union, an agreement that will impose 15% tariffs on most goods imported from Europe, including automobiles. The president also said Monday that the baseline global tariff rate will be “in the range of 15 to 20%.”
While investors effectively looked past the U.S.-EU trade deal, they will be watching for any other potential deals between the U.S. and other countries, such as China, to be announced by Friday’s tariff deadline. Top U.S. and Chinese officials met in Stockholm Monday for another round of trade talks.
Tariffs and inflation will remain a focal point throughout the week in other areas as well. The Federal Reserve is set to offer its decision on interest rates Wednesday following its two-day policy meeting. Central bank policymakers are widely expected to keep rates steady at a range of 4.25% to 4.5%.
This week also marks the busiest week of earnings season, with more than 150 S&P 500 companies due to report. That includes several “Magnificent Seven” companies, namely Meta Platforms and Microsoft slated for Wednesday as well as Amazon and Apple for Thursday. Additionally, UPS, Procter & Gamble, Merck and Boeing are among several names reporting before the bell Tuesday.
“If we get no surprises in earnings and some dovish comments by the Fed, it’s likely we’ll see yet more new highs by the end of the week,” Louis Navellier, founder and chief investment officer at Navellier & Associates, said in a recent note.
As it stands, 170 S&P 500 companies have reported their quarterly results, and more than 83% have beaten expectations, according to FactSet data.
It’s a big week for data, with the Job Openings and Labor Turnover Survey (JOLTS) due Tuesday, the ADP private payrolls report Wednesday and weekly jobless claims Thursday.
July’s nonfarm payrolls due Friday will be a key event for traders. Economists polled by Dow Jones expect the report to show 100,000 jobs added in July, less than the 147,000 added in June. The unemployment rate is anticipated to rise slightly to 4.2% from 4.1%.
Cadence Design Systems, Nucor, Whirlpool among the stocks making moves after the bell
Some stocks are making moves in extended trading Monday:
- Cadence Design Systems – Shares of the computer software company jumped more than 6% after its latest quarterly results beat on the top and bottom lines. For the second quarter, Cadence reported adjusted earnings of $1.65 per share on revenue of $1.28 billion, above the $1.55 per share and $1.25 billion in revenue that analysts surveyed by LSEG were expecting. The company also posted upbeat full-year guidance.
- Nucor – Shares of the steel producer dropped more than 5% after its earnings and revenue for the second quarter missed Wall Street’s estimates. Nucor posted adjusted earnings of $2.60 per share on $8.46 billion in revenue, while analysts were looking for $2.66 per share and $8.54 billion in revenue, according to LSEG. The company also said that it anticipates its third-quarter earnings to be “nominally lower” than this year’s second quarter, citing “decreased earnings in the steel mills segment and similar earnings in the steel products and raw materials segments.”
- Whirlpool – The home appliance stock plummeted about 13% following the company’s disappointing second-quarter results. Whirlpool reported adjusted earnings of $1.34 per share for the quarter, missing the consensus estimate of $1.74 per share, per LSEG. The company’s revenue of $3.77 billion also came up short, missing the $3.88 billion analysts had penciled in. Whirlpool’s guidance for full-year adjusted earnings also missed the mark.
To view the full list of stocks, read here.
— Sean Conlon
Stock futures open little changed
U.S. stock futures opened little changed on Monday evening.
S&P 500 futures ticked up above the flatline just after 6 p.m. ET, as did Nasdaq 100 futures. Similarly, futures tied to the Dow Jones Industrial Average were flat.
— Sean Conlon