Futures associated with the primary indices are on the rise, as market participants prepare for a week filled with significant official U.S. economic data releases and crucial earnings reports from the technology sector. A measure of employment growth in the United States for September is scheduled for release following a delay caused by an extended federal government shutdown, while the outcomes from semiconductor leader Nvidia are expected to shape investor perceptions regarding the current status of the AI boom. Japan’s economy experiences a contraction for the first time in six quarters, while prices for gold and oil are generally declining.

Dow futures indicated an upward trajectory on Monday, suggesting a favorable commencement to a trading week that will present a fresh influx of official U.S. economic data alongside earnings reports from the prominent player in artificial intelligence, Nvidia. By 02:51, the Dow futures contract had gained 88 points, or 0.2%; S&P 500 futures had climbed by 38 points, or 0.6%; and Nasdaq 100 futures had risen by 223 points, or 0.9%. Supporting the prevailing sentiment were indications that U.S. President Donald Trump might be moderating his position on extensive tariffs. Following the closure of markets on Friday, the White House revealed plans to reduce tariffs on a range of food items, with Trump emphasizing the necessity to tackle issues related to affordability. Trump acknowledged that prices for certain products such as beef, fruits, and coffee were “a little bit high.” In a notable development, the U.S. and Switzerland have reached an agreement to reduce export duties from the Alpine country to 15%, down from 39%. This concession comes in return for a substantial $200 billion investment in the U.S. by the conclusion of 2028. The recent developments occurred as the primary U.S. averages recorded a varied conclusion on Friday. The Nasdaq Composite distinguished itself as the outperformer. Tech stocks experienced a rebound following a decline in the index to its lowest point in approximately three weeks, raising optimism that the recent apprehensions regarding elevated, AI-driven valuations in the sector might be diminishing.

Attention now shifts back to the economic calendar, which has remained largely empty of new official U.S. data for weeks amid an unprecedented federal government shutdown. The recent temporary closure concluded last week, setting the stage for the forthcoming release of employment and inflation data from the largest economy globally. One of the significant publications in the upcoming days will be September’s U.S. jobs report, scheduled for release on Thursday. However, remarks from the White House seem to indicate that October data may, at the very least, be limited. These figures are expected to play a significant role in shaping the Federal Reserve’s final interest rate decision for the year in December. The Fed reduced rates in its last two meetings; however, apprehensions regarding the central bank’s lack of current economic data have prompted speculation that officials will maintain borrowing costs at their current levels in the upcoming month.

This week’s earnings agenda will prominently feature the highly anticipated quarterly returns from Nvidia, the semiconductor giant that has emerged as a symbol of the AI boom due to its remarkable growth in recent years. The forthcoming results, set to be disclosed post-market closure on Wednesday, could hold greater significance for investors compared to the earlier U.S. labor market report. Nvidia’s stock price has increased by approximately 1,000% since the introduction of OpenAI’s ChatGPT chatbot in late 2022, positioning the company as the first to exceed $5 trillion in market value and bestowing its earnings with a bellwether status that has the potential to influence the prevailing concerns surrounding AI. In light of inflated stock valuations and a series of interconnected transactions within the technology sector, particularly those centered on Nvidia’s advanced chips, there is a growing concern among analysts regarding the potential emergence of a bubble linked to the AI phenomenon. In addition to Nvidia, several home improvement and big box retailers are scheduled to release their earnings this week, which may provide valuable insights into the prospects for the important holiday shopping season. Home Depot, Target, and Walmart are set to announce their most recent earnings results.

Japan’s economy contracted in the third quarter of 2025, as indicated by gross domestic product data released on Monday, hindered by a decline in exports driven by tariffs, particularly impacting the crucial automotive sector. In the September quarter, GDP experienced a contraction of 1.8% year-on-year, which was an improvement compared to the anticipated decline of 2.5%. However, growth declined from a 2.3% increase in the previous quarter, which was also revised upward. Japan’s economy contracted for the first time in six quarters, yet analysts indicated that the decline was not as severe as initially expected, suggesting it may represent a temporary setback. The decline in GDP was anticipated by many analysts. The Japanese economy is currently contending with persistent inflation, lackluster private consumption, and significant exporters encountering elevated trade tariffs imposed by the United States. Despite the trade deal reached between Tokyo and Washington, Japanese companies, especially those in the automotive sector, continue to face high tariffs. The current emphasis is on the initiatives proposed by new Prime Minister Sanae Takaichi, particularly regarding increased fiscal expenditure and government stimulus strategies.

Gold prices declined, continuing the downward trend from the previous session as traders gradually reduced their expectations regarding a potential interest rate cut by the Federal Reserve next month. The yellow metal faced downward pressure from a stronger dollar, while rising risk aversion, driven by expectations of postponed rate cuts and increased economic uncertainty, did little to mitigate gold’s losses. Oil prices experienced a decline following the resumption of crude loadings at Russia’s Novorossiysk port, which alleviated immediate concerns regarding supply disruptions. Both benchmarks experienced an increase exceeding 2% on Friday following Ukraine’s notable offensive on Novorossiysk and a nearby terminal of the Caspian Pipeline Consortium, which resulted in damage and the suspension of exports that represent approximately 2% of global supply. By Sunday, media reports indicated that tanker-tracking data revealed tankers were once more loading crude at the port.