By Reuters

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 17, 2025. REUTERS

(Reuters) - Wall Street futures edged higher on Monday, buoyed by prospects of trade deals between the U.S. and its key partners, while the earnings season picked up pace with several industrial and tech firms set to report this week.

Futures tracking the S&P 500 rose 16.5 points, or 0.26% at 5:51 a.m. ET, and Nasdaq 100 e-minis climbed 65 points, or 0.28%, hovering near all-time highs hit last week.

Investors scoured for more trade deals ahead of President Donald Trump's August 1 tariff deadline. He threatened to impose a 30% tariff on imports from Mexico and the European Union after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive deal.

Trump has sent letters to other trading partners including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%.

Commerce Secretary Howard Lutnick's remarks on Sunday, however, offered some optimism as he expressed confidence over striking a trade deal with the EU.

The S&P 500 (.SPX) and the Nasdaq (.IXIC) reached new heights throughout the last week as investors largely overlooked Trump's shifting tariff rhetoric in favor of stronger economic data and a solid start to the earnings season.

The blue-chip Dow was 1.64% away from its all-time high.

Of the 59 S&P 500 companies that have reported quarterly earnings this season, 81.4% have surpassed Wall Street's earnings expectations, compared with a long-term average of 67.1%, according to LSEG I/B/E/S data as of Friday.