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U.S. equity futures saw little movement on Monday, with the S&P 500 trading near a record high as investors brace for a busy week of potentially market-moving news. Futures for the S&P 500 were up 0.1%, while Dow Jones Industrial Average futures rose marginally by 39 points. This steady start comes after all three major indexes notched their second-straight winning week.
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The S&P 500 closed above the 6,000 level for the first time since February, now standing less than 3% away from its all-time high. Chris Verrone, chief market strategist at Strategas, noted that investor concerns about tariffs and the U.S. economy seem to be easing. “The message of the market is still one that is largely constructive,” Verrone said.
“Cyclicals making new highs versus defensives says, ‘Hey, the economy’s largely OK here.'”
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This week’s key events include trade discussions between U.S. and Chinese officials and Apple’s annual developers conference, WWDC 2025, which kicks off on Monday. The tech giant’s stock, which has fallen by more than 18% this year, is closely watched for announcements on AI features and strategies to navigate the evolving tariff landscape. In economic data, the latest Consumer Price Index (CPI) is due on Wednesday, followed by the Producer Price Index (PPI) on Friday.
These reports will offer insights into how current tariff rates are impacting the economy. Additionally, a new consumer sentiment reading from the University of Michigan, which includes data on inflation expectations, is scheduled for release on Friday. Asian markets climbed on Monday as investors awaited the trade talks later in the day and processed new data from China.
China’s consumer price index fell by 0.1% year-over-year in May, a smaller drop than the 0.2% decline forecasted. The producer price index fell 3.3%, compared to a 3.2% drop expected by analysts.
Markets await trade discussions, WWDC anticipation
Mainland China’s Shanghai Composite Index rose by 0.29% to close at 3,885.25. Hong Kong’s Hang Seng Index gained 1.63% to 24,181.43, and the Shenzhen Component surged 2.78% to 5,433.23. Japan’s Nikkei 225 added 0.92% to end the day at 38,088.57, while the Topix Index rose by 0.58% to 2,785.41.
South Korea’s Kospi climbed 1.55% to 2,855.77, and the Kosdaq rose 1.06% to 764.21. In India, the Sensex was up by 0.37% by early afternoon local time. S&P Dow Jones Indices announced no changes to the S&P 500 lineup during their quarterly rebalance update on Friday.
This decision came despite speculation that several companies were potential candidates for inclusion. Apple’s World Wide Developers Conference (WWDC) this week provides an opportunity for the tech giant to regain its footing after a challenging year. Apple shares have declined by over 18% year-to-date, and investors are closely watching the event for updates on AI features and the company’s strategies amid the tariff situation.
CEO Tim Cook is scheduled to deliver a keynote address at 1 p.m. ET on Monday. The communication services sector was the best-performing segment in the S&P 500 last week, gaining 3.19%. In contrast, the consumer staples sector was the worst-performing, declining by 1.57%.
Small-cap stocks were also strong performers, with the Russell 2000 index rising 3.19% for its eighth positive week in nine. This week’s market action will provide numerous opportunities to assess the strength of the current rally and the broader economic landscape. Investors will be closely watching the trade discussions, economic data releases, and Apple’s WWDC for any signs that might suggest the next market moves.
