On Monday, US equity-index futures experienced an upward trajectory, indicating that the impressive seven-month rally in global stocks may continue to flourish. This positive sentiment is largely fueled by strong earnings reports from the technology sector and a reduction in tensions surrounding US–China trade relations.
Contracts for both the S&P 500 and the Nasdaq 100 indexes saw a rise of 0.2% following gains in the preceding Friday's market performance. The current optimism surrounding earnings reports is outweighing concerns regarding the concentration of this rally among major tech giants, suggesting a potential for broader market growth.
In Asia, shares gained approximately 0.3%, with South Korea reaching a new peak in its market performance. However, indexes in China faced declines, showcasing a mixed performance across the region. Notably, markets in Japan and cash trading of US Treasuries were closed on Monday due to a public holiday, which may have influenced trading volumes and market dynamics.
The overall sentiment in the market remains positive, driven by earnings optimism and reduced trade tensions. As we look ahead, market participants will be closely monitoring these trends to assess the sustainability of the ongoing rally in global stocks.
