Stocks Surge as Markets Eye Presidential Election and Key Earnings

U.S. stock index futures rose on Monday as investors awaited crucial corporate earnings and the impending presidential election. Technology giants, including Tesla, Alphabet, and Amazon, led gains. Focus shifted to significant economic data and Federal Reserve expectations. Despite rising Treasury yields, markets remained optimistic about a stable economic future.

Investors breathed a sigh of relief on Monday as U.S. stock index futures climbed, recovering from a tumultuous trading spell last week. The stock uptick comes as market participants prepare for a high-stakes week with key corporate earnings reports and the final stretch before the U.S. presidential election slated for November 5.

The Dow E-minis increased by 186 points or 0.44%, S&P 500 E-minis by 30 points or 0.51%, and Nasdaq 100 E-minis by 134.25 points or 0.65%. The spotlight is now firmly on Wall Street's big tech firms, known as the 'Magnificent Seven,' as their performance has been a primary determinant of market movements in recent months.

Notably, Tesla's promising earnings helped lift investor optimism, spurring hopes that other tech giants like Alphabet and Amazon will similarly meet expectations. Despite a bump in Treasury yields, indicating a potentially tighter Federal Reserve policy, markets remain resilient, banking on strong economic data and the trajectory of interest rate cuts.

(With inputs from agencies.)