U.S. stock index futures rise steadily, with S&P 500 futures up 2%, Dow futures up 1.52%, and Nasdaq futures up 2.42%.

U.S. stock index futures rise steadily, with S&P 500 futures up 2%, Dow futures up 1.52%, and Nasdaq futures up 2.42%.

U.S. stock index futures are rising steadily on Monday, April 23, 2025, with S&P 500 futures up 2%, Dow futures up 1.52%, and Nasdaq futures up 2.42%. The positive sentiment in the market is driven by a mix of economic data releases and ongoing trade tensions.

The morning session saw a significant drop in Nasdaq 100 E-Mini futures (NQM25) after the Trump administration imposed new restrictions on Nvidia’s chip exports to China. However, this dip was short-lived, and the futures have since rebounded. The U.S. government notified Nvidia that the company must now obtain a license to export its H20 processors to China and several other countries, which could lead to significant charges in its fiscal first-quarter results. Despite this, the market appears to be digesting the news and focusing on broader economic trends.

Economic data released on Tuesday showed that the U.S. import price index unexpectedly fell -0.1% m/m in March, weaker than expectations of +0.1% m/m. The U.S. March export price index was unchanged m/m, also weaker than expectations of +0.1% m/m. Additionally, the Empire State manufacturing index came in at -8.10 in April, stronger than expectations of -12.80. These indicators suggest a mixed economic picture, with some sectors showing resilience while others face challenges.

Investors are also closely monitoring U.S. Retail Sales data, which is set to be released later today. Economists forecast that March Retail Sales will stand at +1.3% m/m, compared to the February figure of +0.2% m/m. This data is crucial for understanding consumer spending and its impact on the broader economy.

On the earnings front, several notable companies are scheduled to report their quarterly figures today, including Abbott Laboratories (ABT), Prologis (PLD), U.S. Bancorp (USB), Kinder Morgan (KMI), Travelers (TRV), and CSX Corporation (CSX). According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +6.7% increase in quarterly earnings for Q1 compared to the previous year.

The bond market remains stable, with the yield on the benchmark 10-year U.S. Treasury note at 4.312%, down -0.25%. The Euro Stoxx 50 Index is down -0.71% this morning as trade tensions between the U.S. and China continue to escalate, while investors digest inflation data from the region and a new round of corporate earnings.

In other news, the European Central Bank is widely expected to lower the deposit rate by another 25 basis points to 2.25% at its rate-setting meeting on Thursday, as U.S. tariffs continue to threaten growth. Meanwhile, the Chinese GDP for the first quarter was reported at +1.2% q/q and +5.4% y/y, stronger than expectations of +1.4% q/q and +5.2% y/y. The Chinese March Industrial Production arrived at +7.7% y/y, stronger than expectations of +5.9% y/y. The Chinese March Retail Sales stood at +5.9% y/y, stronger than expectations of +4.2% y/y.

Investors are now focused on the upcoming trade talks between Washington and Tokyo, with Japan’s chief negotiator, Ryosei Akazawa, set to visit Washington from April 16th to 18th to initiate formal discussions with his U.S. counterparts.

References:
[1] https://www.inkl.com/news/nasdaq-futures-plunge-after-nvidia-curbs-u-s-retail-sales-data-and-powell-speech-in-focus