Core Viewpoint - U.S. stock futures are showing muted movement as investors prepare for a significant week influenced by the Federal Reserve's policy meeting, major corporate earnings, and U.S.-China trade developments [1] Premarket Activity and Futures Movements - Futures for major indexes are largely flat, with S&P 500 futures up 0.01%, Nasdaq 100 futures up 0.04%, and Dow futures up 0.03% [2] - Russell 2000 futures, representing small-cap stocks, saw a slight dip of 0.32%, indicating some divergence in market sentiment [2] Major Market Indexes: A Record-Setting Monday - All three major U.S. stock indexes closed at all-time highs on Monday, with the S&P 500 surpassing 6,800 for the first time, marking its 35th record close in 2025 [3] - The Nasdaq Composite and Dow Jones Industrial Average also reached new record highs, driven by strong performances in the technology sector [3] - The Russell 2000 small-cap index also hit a new record, reflecting broad market strength fueled by optimism around a potential U.S.-China trade truce and expectations of a Federal Reserve interest rate cut [3] Upcoming Market Events: Fed, Earnings, and Economic Data - The Federal Reserve's two-day FOMC meeting begins on October 28, with a 96-97% probability of a 25-basis-point interest rate cut anticipated on October 29 [4] - This rate cut would be the second of the year, aimed at supporting a cooling labor market and sustaining economic momentum [4] - Investors are keenly awaiting Fed Chair Jerome Powell's post-meeting press conference for signals regarding further easing, particularly a potential cut in December [4] - A U.S. government shutdown has delayed the release of crucial economic data, complicating the Fed's policy decisions [4] Corporate Earnings Reports - A heavy slate of corporate earnings reports is expected this week, particularly from major technology companies [5] - Notable earnings reports expected prior to market open include UnitedHealth Group, PayPal Holdings, D.R. Horton, Royal Caribbean, SoFi Technologies, UPS, and Ecolab [5] - These results are critical for sustaining the current market rally amid concerns over potential margin erosion due to tariffs and higher costs [5] Economic Data Releases - Today's U.S. economic data releases include the S&P/Case-Shiller Home Price Index for August, the Richmond Fed Manufacturing Index for October, and the Consumer Confidence report for October [6] - These data points will provide insights into the housing market, regional manufacturing activity, and consumer sentiment [6] Major Stock News and Corporate Developments - Amazon announced it would begin its largest corporate layoff in history, cutting 30,000 jobs ahead of its Q3 earnings report [7] - Nvidia and Qualcomm saw gains after unveiling new AI processors designed for data-center workloads, with Qualcomm's stock surging [8] - Ricoh Company announced the creation of an AI-powered global SaaS platform, while Battery X Metals confirmed a strategic 20:1 share consolidation [9] - HSBC Holdings lifted its profit outlook, while Novartis dropped after missing earnings estimates [10] Overall Market Sentiment - The market is navigating a complex landscape of record highs, anticipated monetary policy shifts, and a busy earnings season, all against the backdrop of crucial U.S.-China trade negotiations [11]