Futures for the S&P 500 and Nasdaq 100 are up this morning, signaling a higher open on Wall Street due to optimism around a U.S.-China trade deal. Negotiators have reached consensus on tariffs, shipping fees, and more ahead of a meeting between Trump and Xi. This week, earnings from major tech companies and the Fed’s interest rate decision will be in focus. In other news, Trump announced tariffs on Canada, the U.S. government shutdown continues, and the 10-year Treasury note yield is at 4.025%. The Euro Stoxx 50 is up, and the German Ifo Business Climate Index beat expectations.

In Asia, stock markets closed higher as China’s Shanghai Composite hit a 10-year high on trade deal hopes and strong industrial profit growth. In Japan, the Nikkei 225 surpassed 50,000 for the first time on easing trade tensions and expectations of economic stimulus. Corporate earnings season is underway, with companies like Microsoft, Apple, and Boeing reporting this week. The Fed is expected to cut rates, and Trump announced agreements for critical minerals access and tariff exemptions. German business climate improved, and Japan’s service sector inflation also rose.

In pre-market trading, Nvidia and Amazon are rising, while chip stocks are up. Rare earth stocks are down. Today’s earnings spotlight includes companies like Waste Management, Nucor, and Whirlpool. Market participants are awaiting the Fed’s rate decision and watching for further trade developments between the U.S. and China. The global economic picture remains mixed, with central bank decisions and corporate earnings shaping investor sentiment.

Read more at Barchart: Stocks Set to Open Sharply Higher on U.S.-China Trade Optimism, Big Tech Earnings and Fed Meeting in Focus