The Rise Continues on Wall Street

US stock futures rose on Sunday evening as Wall Street aims to carry over last month's momentum into November.

S&P 500 futures (ES=F) and Nasdaq 100 futures (NQ=F) gained about 0.4%, while Dow Jones Industrial Average futures (YM=F) increased by approximately 0.3%.

Wall Street hopes to continue the rally that took place throughout October. The S&P 500 (^GSPC) rose 2.3% last month, the Dow (^DJI) gained 2.5%, and the Nasdaq Composite (^IXIC) jumped 4.7%. Investors have been favoring growth and artificial intelligence-related names, with major tech companies and the "Magnificent Seven" leading market movements. Additionally, optimism regarding a de-escalation in trade tensions between the US and China has supported gains.

However, investors are closely monitoring Washington. The potential shutdown of the US government is delaying the release of significant economic data, including this week's employment report. The Supreme Court will also hear arguments this week regarding the legality of President Donald Trump's most comprehensive tariffs.

The earnings season continues at full speed. About 300 S&P 500 companies have reported third-quarter results. More than 100 additional reports are expected this week from companies like Palantir (PLTR), Super Micro (SMCI), and AMD (AMD).

Due to gaps in government data, this week’s manufacturing and services sector data to be released by the Institute for Supply Management and S&P Global could carry more weight than usual. Additionally, the consumer sentiment report from the University of Michigan will be released on Friday and will be scrutinized amidst growing concerns over a pullback in consumer spending.