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Markets today: Stocks rally ahead of big week for rates, earnings

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U.S. stock futures strengthened on the back of equity gains in Europe and Asia, signaling rising optimism ahead of major central bank decisions and big tech earnings due this week.

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Also in focus this week are earnings including Apple Inc, Amazon.com Inc and Microsoft Corp. following an underwhelming start to the reporting season for tech megacap companies. In currencies, the yen extended last week’s rally before erasing the gains. Still, the long-beleaguered unit remains on course to post its best monthly performance against the dollar for 2024.

“While the July FOMC meeting is likely too soon to initiate the cut, it is not too early to begin preparations for a rate reduction in September,” wrote Stephen Gallagher, an economist at Societe Generale.

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