Traders enactment connected the level of the New York Stock Exchange.
NYSE
Stock futures roseate Sunday evening arsenic investors looked up to a wide expected involvement complaint chopped by the Federal Reserve and a raft of Big Tech net reports.
S&P 500 futures and Nasdaq 100 futures were up astir 0.7% and 0.9%, respectively. Futures tied to the Dow Jones Industrial Average added 290 points, oregon 0.6%.
Investors expect the Fed to slash rates astatine its gathering connected Oct. 29, peculiarly aft the Bureau of Labor Statistics released cooler-than-expected ostentation data past week. Slightly much than 96% of investors expect a heavy complaint chopped to 375 to 400 ground points, portion astir 3% are betting connected a simplification to 400 to 425 ground points, according to the CME FedWatch Tool.
Big Tech companies' upcoming net reports are besides connected tap. Several "Magnificent 7" stocks, including Alphabet, Amazon, Apple, Meta Platforms and Microsoft, volition merchandise their third-quarter results this week. And if earlier Q3 reports are immoderate indication, the companies could station stronger-than-expected fiscal results.
U.S. President Donald Trump and China President Xi Jinping are scheduled to conscionable successful South Korea connected Thursday successful an effort to easiness commercialized tensions, an lawsuit that could connection important clarity and reassurance to investors.
U.S. Treasury Secretary Scott Bessent precocious indicated that talks betwixt the leaders person been "constructive, far-reaching, in-depth," which could determination the needle connected negotiations.
A commercialized woody betwixt the U.S. and China would beryllium a boon for Big Tech stocks, contributing to a broader marketplace bull run, according to Disruptive Technology expert Dan Ives.
"It appears a overmuch broader commercialized framework/deal could beryllium connected the array this week betwixt US and China which would beryllium a immense groundbreaking infinitesimal for the tech assemblage and markets," Ives said Sunday successful a enactment to clients.
Stocks are coming disconnected a bullish week, with each 3 large indices hitting grounds highs past Friday. The Dow Jones Industrial Average added astir 1%, oregon 472.51 points, to 47,207.12 — its first-ever adjacent supra the 47,000 mark. The S&P 500 ticked up 0.79% to 6,791.69, portion the Nasdaq Composite rose 1.15% to 23,204.87.
Novartis strikes $12 cardinal woody to get Avidity Biosciences
Swiss pharmaceutical giant Novartis has agreed to bargain biotechnology company Avidity Biosciences for astir $12 billion, the institution said Sunday.
Novartis volition wage Avidity shareholders $72 a stock successful cash, a premium of 46% to the company's Friday closing price.
The woody is expected to adjacent successful the archetypal fractional of 2026, aft Avidity spins retired parts of its business, including its early-stage precision cardiology programs, the institution said in a statement.
Read the afloat communicative here.
— Liz Napolitano
Stock futures emergence
The S&P 500 and Nasdaq 100 roseate 0.7% and 0.9%, respectively, astir 6 p.m. ET connected Sunday. Dow futures added 290 points, oregon 0.6%.
— Liz Napolitano
English (US) ·