SPX: S&P 500 Futures Rise as Traders Look to Packed Week of Tech Earnings, Trade Updates

Tech kicks off the updates season with the S&P 500 at record highs — will the AI powerhouses justify their lofty valuations? Alphabet and Tesla report will let us know this week.

📈 Earnings Season Heats Up

• S&P 500 futures rose 0.3% early Monday, with Nasdaq futures up 0.4% and Dow futures edging 0.1% higher. The tiny moves come ahead of a big week as Wall Street braces for fresh earnings and trade updates.
• The S&P 500 (at a record high) and the Nasdaq Composite (also at a record high) are coming off a winning week — up 0.6% and 1.5%, respectively. The Dow? Slightly lower, but still hanging near all-time highs (about 1% off the mark).
• About 86% of the S&P 500 companies that have reported have topped expectations so far this season. Apparently, Investor mood is cautiously optimistic. The question now: will this week’s megacap reports turn caution into boldness?

💻 Big Tech Into the Spotlight

• Google parent Alphabet GOOGL and Tesla TSLA kick off the Magnificent Seven parade this week, and the pressure is on. With the S&P 500 sitting so high up the chart, traders want both the earnings and the vision to smash — preferably powered by AI and sprinkled with buzzwords (looking at you, CEOs during the calls).
• The Magnificent Seven club is expected to carry the quarter: Analysts forecast 14% earnings growth for the elite crew, while the rest of the S&P 500 limps along at a 3.4% clip. Not much, but honest work?
• If Alphabet and Tesla deliver strong beats, expect risk appetite to surge while the rest is gearing up to offload their numbers. But miss the mark, and the “priced for perfection” crowd might hit the exit button.

🌍 Trade Tensions Simmer

• Trade also reentered the chat after US Commerce Secretary Howard Lutnick on Sunday reiterated an August 1 deadline for countries to comply with new tariffs. That’s less of a suggestion and more of a countdown clock. The EU, in the meantime, is preparing a no-deal response.
• Still, Lutnick left some diplomatic wiggle room, saying countries can keep “talking to us after August 1.” Markets took that as a soft backpedal — tariffs may tighten, but doors aren’t slammed shut.
• Money spinners will be watching for any shifts in tone, especially with global demand and supply chains already running on a thin margin. Trade friction remains a wildcard in an otherwise bullish setup.