As Investors Focus on Earnings, US Futures Rise – Europe Market Wrap

US market futures gained as traders shifted their attention away from trade and credit concerns and onto the next batch of corporate earnings.

Contracts for the S&P 500 and Nasdaq 100 indicated more increases after both measures closed last week in the green. Tesla rose in premarket trade ahead of its third-quarter earnings report on Wednesday, the first from the Magnificent Seven group of large technology companies.

US market futures rose as traders focused their attention away from trade and credit issues and towards the next round of corporate earnings.

The Stoxx 600 Europe index rose 0.5%, powered by defence sectors, after hostilities erupted in Gaza over the weekend. Rheinmetall jumped more than 4%, while Renk Group and Hensoldt both increased more than 5%. Submarine constructor rose in its Frankfurt debut following its separation from Thyssenkrupp.

Treasuries and the Dollar remained stable. Gold maintained Friday’s sharp plunge, while oil fell after posting its third weekly decline.