US Futures Rise as Dow Eyes Fresh Record Amid Bets on Trump

 

US stock futures climbed on Monday as investors weighed the market impact of a shooting attack on presidential candidate Donald Trump. The incident overshadowed the return of earnings season, but optimism remained high.

• Dow Jones Industrial Average (YM=F) rose 0.5%: The blue-chip gauge ended last week just a few points away from an all-time high.
• S&P 500 (ES=F) added 0.4%: Stocks poised to build on Friday’s gains as JPMorgan Chase and Wells Fargo ushered in earnings season.
• Nasdaq 100 (NQ=F) gained 0.5%: Tech-heavy stocks also contributed to the rally.

Investors focused on the potential fallout from the assassination attempt on Trump at a rally on Saturday. Bets ramped up on a win in November’s presidential election for the Republican front-runner, seen as likely to cut taxes, raise trade tariffs, and ease up on regulation.

Other notable points:

• 10-year Treasury yield (^TNX) rose over 2 basis points to trade around 4.21%.
• 30-year yield (^TYX) also gained, steepening the yield curve.
• Dollar (DX=F) edged up, and bitcoin (BTC-USD) surged to a two-week high above $62,830 amid speculation around former President Trump.
• Trump Media & Technology (DJT) stock soared over 50% in pre-market trading.

In corporate news:

• Alphabet (GOOG, GOOGL) is reportedly in talks for a $23 billion deal to buy cybersecurity start-up Wiz.

Later today, investors will closely listen to Jerome Powell’s comments for hints on the Federal Reserve chair’s view of the latest data.