Markets were pointing toward a rebound Sunday evening after startling jobs data delivered a rude awakening to Wall Street bulls.
Futures tied to the Dow Jones Industrial Average reversed higher, rising 114 points, or 0.26%. S&P 500 futures were up 0.34%, and Nasdaq futures added 0.38%.
The yield on the 10-year Treasury climbed 3.3 basis points to 4.253% after plunging Friday on greater expectations for Fed rate cuts. The U.S. dollar was down 0.09% against the euro and down 0.29% against the yen.
Gold rose 0.17% to $3,405.70 per ounce. U.S. oil prices dropped 0.15% to $67.23 per barrel, and Brent crude fell 0.2% to $69.53, as OPEC+ announced another surge in production.
With Wall Street now more attuned to economic risks like Trump’s trade war, the tariffs that will go into effect on Thursday may get more scrutiny. That includes steeper duties on trading partners like Canada and Switzerland.
Meanwhile, the calendar of economic reports thins out in the coming week after several big ones last week. On Tuesday, the trade deficit for June comes out, providing an update on how much tariffs are impacting imports. On Thursday, second-quarter productivity is due.
Earnings season has passed its peak, but several top names will issue quarterly reports. Palantir Technologies reports Monday after securing a $10 billion software and data contract from the Army.
