By Oliver Gray
Investing.com - U.S. stock futures traded higher in early APAC deals on Monday, finishing the month at fresh record highs and posting gains of over 5% as market participants digested a slew of third quarter corporate earnings results ahead of a key Federal Reserve meeting on Wednesday.
During Friday’s regular session, the Dow added 89.08 points or 0.25% to 35819.57, the S&P 500 gained 8.98 points or 0.2% to 4605.39 and the Nasdaq Composite lifted 50.27 points or 0.33% to 15498.39. For the month of October, the Dow added 5.8%, the S&P was up 6.9% and the Nasdaq gained 7.3%.
Dow Jones 30 Futures added 0.23%, S&P 500 Futures gained 0.27% and Nasdaq 100 Futures lifted 0.29%.
On the bond markets, United States 10-Year rates eased to 1.557%.
Earnings season continues this week with names such as Pfizer (NYSE:PFE), Moderna Inc (NASDAQ:MRNA), Airbnb (NASDAQ:ABNB) and Uber Technologies Inc (NYSE:UBER) due to report results, while the Federal Reserve’s two-day meeting Tuesday and Wednesday will also be monitored by investors amid expectations that policymakers will announce an unwinding of its $US120 billion in monthly bond purchases. Later in the week, October’s ADP Nonfarm Employment Change report is expected to show a continuing recovery as coronavirus infection rates decline across the country.