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Futures up: Dow 0.08%, S&P 500 0.3%, Nasdaq 0.6%

Nov 3 2025 - Wall Street futures gained on Monday,

kicking off November on firmer ground, on the back of optimism

around AI demand and a U.S.-China trade truce.

The benchmark S&P 500 posted its sixth consecutive

monthly gain in October, its longest such streak in four years,

while the tech-heavy Nasdaq logged its longest streak

since January 2018 after all the so-called "Magnificent Seven"

companies that have reported their earnings so far pointed to a

surge in AI spending.

Investors will have more clues on AI demand, as

semiconductor firms including Advanced Micro Devices ( AMD ) and

Qualcomm ( QCOM ) report results this week.

U.S. President Donald Trump said AI giant Nvidia's ( NVDA ) most

advanced chips will be reserved for U.S. companies and kept out

of China and other countries. Shares of Nvidia ( NVDA ) were up

1.6% in premarket trading.

Trump and Chinese President Xi Jinping agreed last week to

de-escalate tensions, including a one-year delay in reciprocal

tariffs, but the agreement did little to address a deeper divide

between the world's two economic superpowers.

At 06:04 a.m. ET, Dow E-minis were up 48 points, or

0.1%, S&P 500 E-minis were up 25.25 points, or 0.37% and

Nasdaq 100 E-minis were up 152.5 points, or 0.59%

PRIVATE ECONOMIC DATA AWAITED

The spotlight this week will be on private sector economic

data to gauge the health of the economy, with the second-longest

U.S. government shutdown contributing to data fog and monetary

policy uncertainty.

Investors will closely watch ADP's private payrolls data on

Wednesday for signs of the labor market's health, particularly

after Fed Chair Jerome Powell last week tempered optimism for a

December rate cut.

A clutch of Fed officials aired discomfort with the central

bank's decision to cut interest rates last week, even as Fed

Governor Christopher Waller made the case for further easing to

support a weakening labor market.

Traders are now pricing in a 69% chance of a 25-basis-point

rate cut in December, lower than the 90% priced in a week

earlier, according to CME Group's FedWatch tool.

Meanwhile, the U.S. Supreme Court is set to hear a case

around the legality of Trump's tariffs on Wednesday, after a

lower court said the administration overstepped authority by

imposing levies under a law meant for emergencies.

Before the bell, Berkshire Hathaway's Class B

shares rose 1.4% after Warren Buffett's conglomerate reported a

higher profit for the third quarter.

Data storage companies gained after a report said Samsung

delayed its DDR5 contract pricing to mid-November.

Seagate Technology ( STX ) and Western Digital ( WDC ) were

up 2.9% and 2.3%, respectively. Sandisk ( SNDK ) rose 6.4%.

Roku ( ROKU ) shares added 2.2% after Piper Sandler upgraded

the stock to 'overweight' from 'neutral'.