Stocks Expected to Open Higher Amid Falling Oil Prices and Upcoming Tech Earnings
U.S. stock futures are pointing toward a sharply higher open as oil prices fell more than -8% following the U.S. and Iran refraining from military escalation for three consecutive nights, easing inflation concerns and boosting investor sentiment. The Federal Reserve's upcoming interest rate decision and earnings reports from major tech companies will be key market focus points this week. On Friday, paper stocks surged due to rising containerboard prices, while software and data center REITs also posted strong gains. However, chip and AI infrastructure stocks declined sharply amid profit-taking or sector-specific concerns. Economic indicators showed a mixed picture: U.S. business activity expanded at its fastest pace in eight months in July, driven by services growth linked to the FIFA World Cup and national celebrations, while manufacturing data came in weaker than expected.
Topics: federal_reserve_meeting geopolitical_tensions oil_prices tech_earnings