December S&P 500 E-Mini futures are up +0.42%, Nasdaq 100 E-Mini futures up +0.57%, signaling further gains on Wall Street from tech earnings and eased U.S.-China trade tensions. Key earnings reports this week from Palantir and AMD, alongside Fed remarks and U.S. economic data, are in focus.

Wall Street saw gains in equities on Friday, with Amazon surging +9% after strong Q3 results and solid Q4 guidance. Twilio and Brighthouse Financial also soared, but DexCom plunged over -14%. Economic data showed a rise in the U.S. Chicago PMI to 43.8 in October.

Fed officials, including some dissenting on last week’s rate cut, expressed concerns about economic growth, inflation, and labor market conditions. Rate futures imply a 69.3% chance of a 25 basis point cut in December’s meeting. Corporate earnings season continues, with S&P 500 companies expected to post a +7.2% increase in Q3 earnings.

The U.S. government shutdown enters its 34th day, delaying official economic data releases like the U.S. jobs report for October. Investors focus on private-sector data like the ADP employment report and the ISM survey on U.S. services sector activity. Today, attention is on the U.S. ISM Manufacturing PMI and S&P Global Manufacturing PMI data.

The Euro Stoxx 50 Index is up +0.62%, led by gains in automobile stocks following news of Dutch chipmaker Nexperia’s China facilities resuming shipments. The Eurozone’s manufacturing activity stagnated in October, with investor focus on the Bank of England’s monetary policy decision and various central bank announcements this week.

China’s Shanghai Composite Index closed up +0.55% as investors reacted positively to last week’s trade agreement between China and the U.S. Manufacturing activity expanded at a slower pace in October, and China removed a gold tax incentive. Corporate news from XPeng and NIO boosted the electric vehicle sector.

Japan’s Nikkei 225 Stock Index was closed for the Culture Day holiday. Pre-market U.S. stock movers include Kenvue, Berkshire Hathaway, Netflix, Boeing, and data storage companies like SanDisk, Seagate, and Western Digital Corporation. Today’s earnings spotlight includes Palantir, Vertex, Netflix, Boeing, and many other companies.

Read more at Yahoo Finance: Stocks Set to Extend Rally as Investors Await Key Earnings and Fed Speak