While Dow Jones futures climbed 0.56% at the time of writing, the S&P 500 futures gained 0.45%.
U.S. stocks appear set for a positive opening on Monday after the Canadian government rescinded the digital services tax after President Donald Trump’s announcement on Friday.
“Today’s announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month’s G7 Leaders’ Summit in Kananaskis,” said Canadian Prime Minister Mark Carney in a statement.
Earlier on Friday, President Trump announced that he will be “terminating ALL discussions on Trade with Canada,” in a post on Truth Social. Treasury Secretary Scott Bessent called the tax discriminatory against U.S. companies.
While Dow Jones futures climbed 0.56% at the time of writing, the S&P 500 futures gained 0.45%, and the tech-heavy Nasdaq 100’s futures were up 0.64%. Futures of the Russell 2000 index gained 0.47%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) rose 0.51%, while Invesco QQQ Trust (QQQ) was up 0.7% on Monday morning.
Bitcoin (BTC) declined 0.26% in the past 24 hours.
Asian markets ended Monday’s trading session on a mixed note, with the Nikkei 225 leading with gains of 0.83%, followed by the Shanghai Composite at 0.59%, and KOSPI at 0.51%.
The Hang Seng index fell 0.88%, while the TWSE Capitalization Weighted Stock index declined 1.46%.
Stocks To Watch
- Tesla Inc. (TSLA): The Trump administration’s “Big Beautiful Bill” will end tax credits for electric vehicles at the end of September, ahead of the timeline proposed by the House.
- Goldman Sachs Group Inc. (GS), Wells Fargo & Co. (WFC): Stocks of the two big banks were up by nearly 3% in Monday’s pre-market trading session after the Federal Reserve announced on Friday that the companies cleared its annual stress test.
- Juniper Networks Inc. (JNPR), Hewlett-Packard Enterprise Co. (HPE): The Justice Department settled its antitrust case involving HPE’s $14 billion acquisition of Juniper, ahead of a trial scheduled for July 9.
- NextEra Energy Inc. (NEE), Enphase Energy Inc. (ENPH): Clean energy stocks sank over 5% in Monday’s pre-market trading session after the Senate proposed a new tax on solar and wind projects.
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