What is the driving force behind the Monday market as US stocks climb higher due to China’s tax cuts on trading and their interest in additional stimulus?

Stocks are expected to have a cautious start on Monday after the conclusion of the Jackson Hole Symposium. In the past week, the Nasdaq Composite and S&P 500 indices saw gains, while the Dow Industrial Average and Russell 3,000 Index experienced declines. Traders were initially optimistic due to expectations of strong earnings from Nvidia Corp., but sentiment waned ahead of Federal Reserve Chairman Jerome Powell’s speech. The market trend is still positive, but bearish sentiment is increasing. In premarket trading, futures for the Nasdaq 100, S&P 500, Dow, and Russell 2000 are all showing slight gains. The economic calendar is packed with important data releases, and there are notable stock movements in Hawaiian Electric Industries, Horizon Therapeutics, and China-related stocks. Crude oil futures rose slightly in early European trading, and global equity markets are mostly in positive territory.