Earnings continue to remain in focus this week, with leading companies trading at SPX like Amazon, Microsoft, Boeing, etc., set to report their quarterly profits in the coming days. Even though according to forecasts, the overall earnings for S&P 500 is expected to decline by 1.5%, it is still more upbeat than previous expectations, which were for a 4% decline.

By the end of this week, we will also get a look at the Q1 GDP for the US. After the prolonged partial government shutdown, things are set to look up as economists forecast the GDP to grow by 2.4%, above the 1% they previously expected.

In the last week, positive economic data from China too reinforced a positive sentiment in the markets and allayed fears of a potential slowdown in economic growth worldwide. Furthermore, US and China trade negotiations are expected to make some headway this week, as markets await news of an upcoming meeting between Trump and his Chinese counterpart, Xi Jinping.