US stock futures pushed higher on Monday as a looming deadline fueled uncertainty around President Donald Trump’s tariff plans, as investors looked ahead to the monthly jobs report and key retail earnings.
S&P 500 futures (ES=F) climbed 0.5%. while those on the tech-heavy Nasdaq 100 (NQ=F) saw a roughly 0.8% gain. Dow Jones Industrial Average futures (YM=F) were up 0.4%. The major US indexes are coming off a volatile week and a losing month in February.
Elsewhere, a weekend effort by European leaders to rally around Ukraine prompted traders to boost bets on a bump to defense spending in the region, lifting related stocks.
The week will bring a crucial jobs report and a batch of retail earnings that could feed or ease concerns about economic downturn and consumer resilience. The February nonfarm-payrolls report on Friday is expected to show modest jobs growth, with the unemployment rate steady at 4%.
And in a packed week of retail earnings, results from Target (TGT) on Tuesday and Costco (COST) are in focus for what they reveal about American shoppers. Data last week showed consumer spending unexpectedly fell in January by the most in four years.
Trump said bitcoin (BTC-USD) and ethereum would be central to the reserve, to be set up following a January executive order on digital assets. Bitcoin, which sank 17% to below $79,000 per token in February, soared at one point above the $94,000 level.
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32 mins ago
Intel stock pops after report Nvidia has started manufacturing tests
Intel’s (INTC) shares were up 5% in premarket after Reuters reported that AI leader Nvidia (NVDA) and Broadcom (AVGO) running manufacturing tests of their chips in its factory.
Reuters reported, citing sources familiar with the matter:
Defense stocks rallied in Europe on Monday after leaders in the region discussed how to secure Ukraine, prompting investors to ramp up bets on a rise in military spending.
The UK and France are leading a push by a “coalition of the willing” European leaders to boost peacekeeping forces after last week’s clash between US President Donald Trump and Ukraine’s leader Volodymyr Zelenskiy.
The moves follow reports that France’s president and Germany’s next government believe that hundreds of billions of dollars in additional defense spending is needed.
Shares of European arms makers jumped, with BAE Systems (BA.L, BAESF) rising 13% and Rheinmetall (RHM.DE, RNMBY) up 16%. Thales (HO.PA, THLEF) added 11%, Saab (SAABY, SAAB-B.ST) put on 9%, and Dassault Aviation (AM.PA) gained 12%, helping lift the Stoxx 600 by 0.5% toward a record high.
Today at 6:58 AM UTC
Oil prices maintain against Ukraine news and upcoming tariffs
Oil prices remained level at the beginning of the week as traders assessed the potential impact of Russia’s war in Ukraine and awaited President Donald Trump’s tariffs on US trading partners ahead of the March 4 implementation date.
Cryptocurrencies surge on inclusion in strategic reserve
On Sunday, US President Donald Trump revealed the names of five digital assets he plans to add to a new strategic reserve of cryptocurrencies, causing surges in the market value of each.
Trump shared the announcement on Truth Social, stating that his January executive order on digital assets would establish a stockpile consisting of Bitcoin, Ethereum, XRP, Solana, and Cardano. These assets had not been disclosed before.
Third-generation blockchain stalwart Cardano saw the biggest gain, skyrocketing 60% in minutes.
Today at 1:56 AM UTC
Gold climbs up following first loss in weeks
Gold (GC=F) opened up after the weekend following a steep fall last week. Investors are bracing for potential economic instability as US President Donald Trump prepares to implement import tariffs against key trade partners.
