S&P500 Today: Meta, Palantir Drive Tech Stocks as US Indices Firm on Trade

S&P 500 futures firm as trade optimism and tech gains lift sentiment

U.S. stock futures climbed early Monday, positioning the S&P 500 to extend its record run as investors react to improving trade signals and strong premarket moves in key tech names.

Futures tied to the S&P 500 rose 0.4%, Nasdaq 100 futures added 0.5%, and Dow futures advanced 218 points, reflecting broad optimism as Wall Street closes out a strong June.

Will Canada’s tax rollback fuel tech momentum?

Canada’s decision to pull back its digital services tax, which would have targeted firms like Alphabet, Meta, and Amazon, removed a trade friction point just as tensions risked escalation.

President Trump had paused trade talks with Canada last week, but the rollback supports negotiations, easing a potential drag on tech valuations.

Meta climbed 2% premarket, Alphabet gained 1%, and Microsoft added 0.5%, supporting Nasdaq strength in early action.

Which stocks are moving before the bell?

Hewlett Packard Enterprise surged 14% and Juniper Networks rose 8% after a DOJ settlement cleared their $14 billion merger, unlocking M&A momentum in tech infrastructure.

Moderna advanced 2% following positive late-stage flu vaccine data, supporting biotech sentiment.

GMS jumped over 11% after Home Depot announced a $4.3 billion acquisition plan, topping a prior bid from QXO.

Palantir gained 5% after expanding its federal AI partnership with Accenture, strengthening its government contract pipeline.

Disney rose 2% on a Jefferies upgrade to buy, citing strength in parks and an improving cruise outlook.

Tesla slipped 1% premarket as President Trump’s fiscal package advanced, adding pressure to renewables and clean energy credits that could impact EV momentum.

What is the Federal Reserve signaling on rates?

Atlanta Fed President Raphael Bostic said Monday the Fed is unlikely to cut rates in July, noting inflation data and tariff impacts on labor markets remain unclear. Traders will closely watch upcoming inflation and employment prints, with policy patience from the Fed suggesting any easing could be delayed unless data weakens.

What should traders watch at the open?

The S&P 500 enters the session up 4.4% for June, while the Nasdaq has climbed nearly 6.1%.

Traders will watch for continued rotation into large-cap tech if trade optimism holds while monitoring Senate developments on President Trump’s spending bill, which could impact clean energy, defense, and infrastructure names.

With futures firm and sentiment constructive, the market is set to open with a positive bias unless early data or geopolitical headlines disrupt momentum.

More Information in our Economic Calendar.