Investing.com-- U.S. stock futures were largely muted Monday evening after subdued moves on Wall Street, as investors cautiously awaited key economic data releases, and first-quarter earnings from megacaps including Apple, Amazon, and Microsoft.

The muted moves also reflected growing global recession fears and lingering uncertainty over U.S.-China tariff negotiations.

S&P 500 Futures were steady at 5,552.0 points, while Nasdaq 100 Futures ticked down 0.1% to 19,516.75 points by 19:55 ET (23:55 GMT). Dow Jones Futures were little changed at 40,386.0 points.

Dow, S&P 500 edged up amid tariff talks; recession risks remain in focus

Major Wall Street indexes saw modest gains on Monday, with the Dow and S&P 500 ending slightly higher and the Nasdaq ending fractionally lower, as investors digested the latest comments on tariffs from U.S. Treasury Secretary Scott Bessent.

The Dow Jones Industrial Average closed up 0.3%, and the S&P 500 index edged up 0.1%, while the NASDAQ Composite lost 0.1%.

NVIDIA (NASDAQ: NVDA ) stock fell more than 2%, while Tesla (NASDAQ: TSLA ) and Apple (NASDAQ: AAPL ) shares rose marginally.

In an interview with CNBC on Monday, Secretary Bessent said many countries have offered ’very good’ tariff proposals to the U.S.

He also stated that all aspects of the U.S. government are in contact with China and that it is up to China to de-escalate the situation. This came after Beijing earlier denied that any talks occurred.

Investors were still cautious as they awaited substantive signs of easing trade tensions.

A Reuters poll on Monday showed that the global economy faces a high risk of recession this year, noting that U.S. President Donald Trump’s tariffs have weakened business sentiment.

Key econ data, megacap earnings loom

Investors braced for a busy week with a series of U.S. economic data releases, including the Federal Reserve’s preferred inflation gauge – the PCE price index , and the monthly U.S. jobs report.

The U.S. will also report its first-quarter gross domestic product (GDP) data this week.

Markets also awaited earnings from the “magnificent seven” megacaps, including Apple, Microsoft (NASDAQ: MSFT ), Amazon (NASDAQ: AMZN ), and Meta Platforms (NASDAQ: META ), this week.

Microsoft and Meta are set to report on Wednesday, while Apple and Amazon are scheduled to report their earnings on Thursday.

These reports are key to gauging corporate resilience amid ongoing global uncertainty.