Stock Market Update

The stock market remains on track for a higher open this morning as mega-cap tech names trade higher, joining the broader market in a rebound effort that saw the major averages close significantly improved from their opening losses yesterday. 

Treasury Secretary Scott Bessent echoed the positive sentiment in a CNBC interview this morning, suggesting that the market is still in the early innings of AI investment and adoption. 

Regarding China, Mr. Bessent said that the U.S. is having working-level meetings with China and thinks that matters can deescalate. Mr. Bessent said that he will be speaking with Asian and European allies and predicts a "fulsome group response" to escalating trade tensions with China.

Equity futures are also supported by this morning's batch of earnings reports, which continue to impress, with the financials sector poised for another solid session.