Bonds & Stocks
S&P 500 futures climbed 0.8%, putting the benchmark on course to extend its record run after US and Chinese officials said they’d reached a series of agreements ahead of a meeting between President Donald Trump and Xi Jinping. Gold slipped and Treasuries fell across the curve as demand for havens waned. Easing trade tensions between the world’s largest economies are giving investors fresh confidence to extend equities’ rally from April lows, when markets slumped as Trump moved to rewrite global trade rules. That advance faces key tests this week, with the Fed expected to cut interest rates and earnings from AI heavyweights set to offer clues on profit durability.
Economy
Many US companies plan to resist boosting prices in the coming months, even as their costs mount and profit margins come under pressure, a new survey from the National Association for Business Economics showed. More than half of panelists reported material costs rising at their firms in the third quarter, according to the survey released Monday. However, 65% said there had been no change in prices charged in the quarter, and a similar share expect flat prices in the next three months. Among other findings, more respondents said employment rose rather than fell in the third quarter, the first time that’s happened in the quarterly survey since 2024. 20% reported headcount gains, while only 11% reported a decline. Still, 70% of respondents expect no change in employment in the next three months.
World
Argentina’s dollar bonds soared as President Javier Milei’s strong showing in legislative elections beat forecasts, easing investor concern his economic overhaul would stall. The nation’s debt jumped across the curve in early trading, with dollar notes due in 2035 up more than 13 cents to trade at a record 70.34 cents on the dollar. The results should help ease doubts on whether Argentina will continue to receive crucial support from the US, with the Trump administration having signed a $20 billion swap line with Argentina’s central bank to help stabilize the peso.