US stock futures recorded positive gains early this week as investors are now gearing up for the release of corporate earnings reports and key economic data that will determine expectations for Federal Reserve (Fed) policy.
In terms of market performance, the Dow Jones index rose 0.47% to 237.96 points, the S&P 500 jumped 0.65% to 44.82 points and the Nasdaq Composite strengthened 0.81% to 191.33 points.
Meanwhile, major US banks including JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Morgan Stanley and Goldman Sachs are scheduled to report their respective financial performance this week.
The reports are considered important to provide a picture of lending, deal-making and trading activities.
Other major companies also scheduled to release earnings include Bank of New York Mellon, Delta Air Lines, BlackRock and PNC Financial.
Meanwhile, the market will also focus on Tuesday's inflation report with any upside surprise potentially complicating the Fed's interest rate cut trajectory.
