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Traders work at the New York Stock Exchange on Jan. 30, 2025.
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U.S. stock futures rose Monday night to kick off a holiday-shortened trading week.
Dow Jones Industrial Average futures advanced 106 points, or 0.2%. S&P 500 and Nasdaq 100 futures climbed 0.2% and 0.2%, respectively.
Wall Street is coming off a winning week for the major averages. The Dow Jones Industrial Average gained roughly 0.6% last week, while the S&P 500 advanced 1.5%. The Nasdaq Composite rose 2.6%.
Much of last week's gain came Thursday after President Donald Trump's plan for reciprocal tariffs on countries with levies on U.S. goods soothed investors who worried they would be more stringent.
Stocks have been choppy to start the year but, even with ongoing concerns around trade and inflation, a look at the major averages show that they are not too far off their recent highs as investors scan for a catalyst for the next leg higher.
The 30-stock Dow and the Nasdaq are about 1% off their recent records, while the S&P 500 is just 0.2% off its own milestone.
"As earnings expectations accelerate and the share repurchase window opens for most companies, the key tenets of the bear argument are breaking down, and odds are improving that the S&P 500 breaks out of the trading range it has been stuck in since the election," wrote Mark Hackett, chief market strategist at Nationwide.
Earnings season continues Tuesday. Occidental Petroleum and Arista Networks are among the companies set to report results.
FOMC minutes in focus this week, economist says
The Federal Reserve meeting minutes will be in the spotlight this week, as investors scrutinize just how long the central bank expects to be on hold, according to Bill Adams, chief economist at Comerica Bank.
Fed Chair Jerome Powell has said repeatedly that the central bank is in "no hurry" to cut interest rates, but any clarity on the path of monetary policy will be welcomed by investors. Markets were last pricing in roughly one or two quarter-point cuts by the end of the year, according to CME Group data.
— Sarah Min
Southwest to cut 15% of corporate jobs
Southwest Airlines announced Monday it would reduce its corporate workforce by 15% in an effort to cut costs.
"This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions," CEO Bob Jordan said in a news release. "We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization."
— Leslie Josephs
English (US)