U.S. stock futures were rising on Monday, as the Dow Jones, S&P 500 and Nasdaq 100 indices advanced, following Friday’s mixed close.
Over the weekend, the U.S. suspended its 13-night airstrike campaign against Iran to allow for diplomacy and assess munitions stocks. In response, a senior Iranian official confirmed Tehran would also halt retaliatory strikes as long as the U.S. pause continues.
Investors are preparing for a critical week as four ‘Magnificent 7’ heavyweights—Meta Platforms Inc. (NASDAQ:META), Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), and Apple Inc. (NASDAQ:AAPL)—report quarterly results, alongside the Federal Open Market Committee’s (FOMC) interest rate decision on Wednesday presided over by Chair Kevin Warsh.
Meanwhile, the 10-year Treasury bond yielded 4.64%, and the two-year bond was at 4.30%. The CME Group’s FedWatch tool’s projections show markets pricing a 68.5% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Monday. The SPY was up 0.94% at $745.85, while the QQQ advanced by 1.57% to $695.
