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Dow futures trade steady, inflation and FOMC meeting in focus
Investing.com – U.S. stock futures were trading higher during Sunday’s evening deals, after major benchmark averages finished the week at multi-month highs, with market participants looking ahead to the Fed’s interest rate decision and fresh inflation data set for release later in the week.
By by 6:50pm ET (10:50pm GMT) Dow Jones Futures traded flat, S&P 500 Futures lifted 0.2%, Nasdaq 100 Futures added 0.3%.
In the week ahead, market participants are expecting a 70.1% chance of Federal Reserve policymakers holding interest rates at their current levels, with CPI data expected to fall to 4.1% from last month’s reading of 4.9%. Other data slated for release inlcudes PPI, retail sales, Philadelphia fed manufacturing business and retail inventories, as well as Michigan consumer sentiment and expectations. Speeches from Bullard and Waller will also be closely monitored.
During Friday’s trade, the Dow Jones Industrial Average added 43.2 points, or 0.1% to 33,876.8, the S&P 500 lifted 5 points or 0.1% to 4,298.9 and the NASDAQ Composite added 20.6 points or 0.2% to 13,259.1. For the week, the Dow lifted 0.3%, the S&P 500 gained 0.4% and the ixic added 0.2%.
On the bond markets, United States 10-Year rates were at 3.743%.