Futures prices rose Sunday night as markets pointed to another positive session ahead of a big week ahead of President Donald Trump’s tariffs and tariffs. Tesla CEO Elon Musk’s huge pay package.
Futures tied to the Dow Jones Industrial Average rose 107 points, or 0.22%. S&P 500 futures rose 0.28% and Nasdaq futures rose 0.30%. This will add to Friday’s gains.
The 10-year Treasury yield fell 1.8 basis points to 4.083%. The dollar rose 0.06% against the euro and 0.16% against the yen.
Gold fell 0.11% to $3,992 an ounce. U.S. oil futures rose 0.64% to $61.37 a barrel and Brent crude oil rose 0.62% to $65.17 a barrel as OPEC+ signaled it would suspend production increases next year.
On Wednesday, the Supreme Court will hear arguments in a case challenging Trump’s ability to use the International Emergency Economic Powers Act (IEEPA) to impose so-called reciprocal duties and tariffs related to the fentanyl trade.
Lower courts have ruled against him, but some trade experts still see opportunity The High Court will rule in his favour.
On Sunday, Finance Minister Scott Bessant said he was optimistic the Supreme Court would rule in the government’s favor, noting that China’s strict rare earth export restrictions threatened a wide range of industries and critical technologies.
“The president was able to use his IEEPA powers to fight back,” he told fox news sunday. “If that’s not using emergency power in an emergency, I don’t know what is.”
Tesla shareholders will gather at the company’s annual meeting on Thursday to vote on Musk’s $1 trillion compensation package.
Chairman Robin Denholm urge shareholders support it, warning in a letter On Monday, the company risks losing significant value if the deal falls through and Musk chooses to step down as CEO.
She added that the historic compensation is needed to motivate Musk and Tesla to further advance the fields of artificial intelligence, robotics and autonomous driving.
If approved at the annual meeting, Musk will receive an incremental payment of more than 420 million Tesla shares, but only if he can Deliver the company’s growth plansThis includes the delivery of 20 million Tesla vehicles and 1 million commercially operated robotaxis.
For his part, Musk told analysts on Tesla’s earnings call last month that the proposal was more about Make sure he doesn’t get marginalized.
“It’s called compensation, but I’m not going to spend the money,” he said. “It’s just, if we build this robot army, do I at least have strong influence over that robot army, not current control, but strong influence? That’s the question in a nutshell. If I don’t have at least strong influence over that robot army, then I’m not going to feel comfortable using this robot army.”
Meanwhile, elections in New York City, New Jersey and Virginia could help change the narrative in Washington, D.C., where lawmakers remain deadlocked over the government shutdown.
The election results could prompt one party to quickly reach a deal that clears the way for federal employees and benefits to be paid again.
Reopening the government will also restart the flow of economic data. Until then, there are only private sector sources, including the Institute for Supply Management’s manufacturing index on Monday, ADP’s monthly jobs report on Wednesday and the ISM’s services index on Wednesday.