U.S. stock futures ticked up early Monday as investors welcomed signs of a possible easing in trade frictions between Washington and Beijing. Meanwhile, fresh data shows the iPhone 17 from Apple (NASDAQ:AAPL) is selling faster than last year’s model in the U.S. and China, and Kering (EU:KER) has struck a €4 billion deal to hand over its beauty unit to L’Oréal (EU:OR).
U.S. futures move higher
Wall Street looks set to open in the green as traders monitor early signs of a thaw in U.S.-China relations and prepare for a big week of earnings reports.
By 03:28 ET, Dow futures were up 176 points (+0.4%), S&P 500 futures climbed 30 points (+0.5%), and Nasdaq 100 futures gained 139 points (+0.6%).
All three major indexes closed the previous week higher. President Donald Trump said his plan for triple-digit tariffs on Chinese imports is “not sustainable,” even as he criticized Beijing for tightening restrictions on rare earth exports.
Trump confirmed he will meet Chinese President Xi Jinping in South Korea later this month, saying in a TV interview that the U.S. is “going to be fine with China.”
Treasury Secretary Scott Bessent also said he will meet Chinese Vice Premier He Lifeng this week in an effort to cool tensions. Chinese state media reported that He and Bessent held “constructive discussions” and agreed to resume trade talks “as soon as possible.”
Despite the softer tone, tariffs remain a core policy weapon for the White House. Trump pledged to keep “massive” tariffs on India in place until it halts purchases of Russian oil and hinted at increased tariffs on Colombia.
Investors will also be keeping an eye on results from Tesla (NASDAQ:TSLA) and Netflix (NASDAQ:NFLX), as well as an inflation report delayed by the U.S. government shutdown.
iPhone 17 outpaces iPhone 16
Sales of Apple’s iPhone 17 series have outstripped those of the iPhone 16 by 14% during the first 10 days of availability in the U.S. and China, according to Counterpoint Research.
The base model has been the standout, with sales jumping nearly one-third compared to last year’s entry-level iPhone. Chinese consumers have shown particularly strong demand, with unit sales almost doubling from a year ago.
“The base model iPhone 17 is very compelling to consumers, offering great value for money,” said Mengmeng Zhang, Senior Analyst at Counterpoint. She added that the model delivers “a better chip, improved display, higher base storage, selfie camera upgrade — all for the same price as last year’s iPhone 16.”
In the U.S., the iPhone 17 Pro Max has been the top seller, helped by carriers raising maximum subsidies by 10%, a move interpreted as a push toward high-spending customers.
Kering to sell beauty business to L’Oréal in €4B deal
Kering announced plans to sell its fragrance house Creed to L’Oréal in a €4 billion all-cash transaction.
The deal also includes licensing rights for brands such as Gucci, Balenciaga and Bottega Veneta. Once approved by regulators, L’Oréal will gain exclusive rights to produce and distribute beauty products for these labels for 50 years, starting in the first half of 2026.
The companies also announced a 50/50 joint venture aimed at exploring “new business opportunities at the intersection of luxury, wellness, and longevity.”
“This partnership allows us to focus on what defines us best: the creative power and desirability of our Houses,” said Kering CEO Luca de Meo.
Kering shares climbed more than 4% in early European trading, while L’Oréal gained nearly 1%.
China’s growth slows but beats forecasts
China’s economy expanded slightly more than expected in the third quarter of 2025, though growth slowed to its weakest pace in a year as disinflation and trade tensions weighed.
GDP rose 4.8% year-on-year, just above expectations of 4.7% but down from 5.2% in the previous quarter. On a quarterly basis, growth came in at 1.1%, above the 0.8% forecast.
Year-to-date GDP stood at 5.2%, a touch lower than the 5.3% recorded last quarter but still above Beijing’s 5% annual target.
Gold steadies near record highs
Gold prices edged higher Monday, clawing back some losses from last week while remaining close to all-time highs as investors digested a softer U.S. tone on China trade.
Spot gold rose 0.2% to $4,257.09 an ounce, while December futures gained 1.4% to $4,270.69/oz by 03:54 ET.
The metal retreated from record levels last week after Trump questioned the durability of the trade war with Beijing but confirmed talks are still on track. The shift in tone reduced some of the safe-haven demand that had recently fueled bullion’s rally.
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