Stock futures move higher as traders await big tech earnings, eye trade developments: Live updates

U.S. stock futures moved higher early Monday as investors tracked the latest developments in trade and awaited the start of big tech earnings this week.

Dow Jones Industrial Average futures added 41 points, or 0.09%. S&P 500 futures rose 0.13%, while Nasdaq 100 futures increased by 0.18%.

Trade was once again in focus as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the “hard deadline” for countries to start paying tariffs, though he also added that “nothing stops countries from talking to us after August 1.”

Wall Street is coming off a winning week for the S&P 500 and Nasdaq, both of which continued to notch all-time highs. The S&P 500 ended the week higher by 0.6%, while the Nasdaq climbed 1.5%. The Dow ended the week slightly lower.

The moves come on the heels of a solid start to earnings season. Of the 59 S&P 500 companies that have reported thus far, more than 86% have topped expectations, according to FactSet data.

The major averages could receive a boost in the week ahead if Alphabet and Tesla — the first of the so-called Magnificent Seven companies set to report — manage to beat estimates. The megacaps are expected to be a major driver of earnings growth during the second-quarter earnings season. FactSet's John Butters expects the Magnificent Seven will post earnings growth of 14% in the second quarter, while the other 493 S&P 500 companies are seen posting growth of just 3.4%.

“We're at an all time high for the [S&P 500] right at the beginning of earnings season,” said Mark Malek, investment chief at Siebert Financial, adding, “If we can get through this earnings season with not too many major failures, I think that is really, really important at this point, if we want to continue this upward momentum that we have in the market.”

On the economic front, the June reading for leading indicators, which are predictive metrics for the overall market and economy, is scheduled for release on Monday at 10 a.m. ET.

Verizon Communications and Domino's Pizza are among the companies set to report earnings Monday.

Aug. 1 is ‘hard deadline’ for tariffs, Commerce Secretary Lutnick says

Commerce Secretary Howard Lutnick said Sunday that Aug. 1 is the deadline for countries to begin paying tariffs to the United States, but said that “nothing stops countries from talking to us after August 1.”

“That's a hard deadline, so on August 1, the new tariff rates will come in,” Lutnick said on CBS News, when asked about the deadline for his tariffs on the European Union.

President Donald Trump's tariff deadline has shifted since he announced his steep levies on trading partners on April 2, but White House officials now maintain that Aug. 1 is a firm deadline.

“Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1,” Lutnick said.

Stock futures open little changed

Stock futures opened little changed Sunday night.

Dow Jones Industrial Average futures fell by 18 points, or 0.04%. S&P 500 futures gained 0.02%, while Nasdaq 100 futures traded flat.