S&P 500 Futures Rise with Earnings Expectation and Fed Meeting

S&P 500 futures rose on Monday morning, following the broad index’s best week in several months. Traders are now anticipating another eventful week filled with corporate earnings, crucial labor market data, and a Federal Reserve meeting.

Tesla surged over 13% in premarket trading after overcoming a significant regulatory obstacle for its fully self-driving technology in China. Apple, also set to release its financial results this week, saw its shares increase by approximately 2.5% before the market opening, supported by a bullish upgrade from investment firm Bernstein.

Monetary policy will be in the spotlight later this week, with the Federal Reserve scheduled to announce its latest interest rate decision on Wednesday. Although it is widely expected that the Fed will maintain the current borrowing costs, investors will be keenly watching Chair Jerome Powell’s press conference following the announcement. This comes just before the release of the nonfarm payrolls report for April, expected on Friday.

The Nasdaq has recovered from its recent median decline, partially offsetting previous losses as momentum continues. With strong corporate earnings results, major US indices may find additional support.