HomeBusinessStock futures are little...

Stock futures are little changed ahead of key inflation data: Live updates


Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 20, 2023.

Brendan McDermid | Reuters

Stock futures were little changed Sunday night as investors awaited a batch of economic data in the week ahead and earnings from two major tech companies.

Futures tied to the Dow Jones Industrial Average ticked higher by 9 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures edged higher by 0.02% and 0.07%, respectively.

On Friday stocks finished a down week on a high note. The Dow gained 75.86 points, or 0.22%, to close at 34,576.59, while the S&P edged higher by 0.14% to snap a three-day losing streak and finish at 4,457.49. The Nasdaq Composite eked out a 0.09% gain and settled at 13,761.53. All three indexes posted a losing week, however. It was the first negative week in three for the S&P and Nasdaq.

Investors are looking forward to key inflation data in the week ahead after a string of stronger-than-expected economic data points last week renewed worries that the Federal Reserve could raise rates more than previously expected. Traders are pricing in a roughly 4 in 10 chance of an increase in November after an anticipated pause in September, according to CME Group’s Fed Watch tool.

“Overall, the market will be looking for direction amid recent choppiness and concern that the economy is set to slow down in the coming quarters,” Yung-Yu Ma, chief investment strategist at BMO Wealth Management, told CNBC.

Wednesday and Thursday bring the latest consumer price index and producer price index readings, respectively. Investors are hoping for low readings, although both are expected to jump due to energy cost pressures.

“Both CPI and PPI inflation reports will highlight the importance of oil price, which has pushed toward the upper end of its one-year trading range,” Ma said. “A break above $90/barrel for WTI would start to cause concerns for future price pressures in the economy.”

Retail sales data is also expected Thursday and the University of Michigan’s Consumer Sentiment Survey will be released on Friday, which should give insight on how well spending could hold up for the rest of the year.

Elsewhere, investors are also getting financial updates from two big tech giants: Oracle on Monday and Adobe on Thursday.

Apple will also hold its product event on Tuesday, dubbed “Wonderlust,” during which the company is widely anticipated to unveil the iPhone 15.

Apple is coming off a down week and dipped below its 50-day moving average following reports that China plans to expand a ban on the use of iPhones in government agencies and state-owned companies. That raised fears among investors that the largest S&P 500 stock could be breaking.



Source link

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Read Now

USC football vs. ASU updates, analysis, score from Pac-12 Conference Week 4 college game

The Arizona State Sun Devils host the USC Trojans in a Week 4 Pac-12 college football game on Saturday night at Mountain America Stadium in Tempe.Arizona State (1-2) is coming off a 29-0 loss against Fresno State.USC (3-0) was off last week after beating Stanford in Week...

Australia making most of ‘massive opportunity’ at NHL Global Series — Melbourne | NHL.com

You could see NHL gear all over the city Saturday, from Queen Victoria Market to the Central Business District to Melbourne Park, where fans participated in activities at the NHL Global Fan Tour outside Rod Laver Arena. It was an interesting mix of expats and Aussies. Kyle Webb...

Before We All Leave WhatsApp Because of the Channels Feature

From the COLlive inbox: "Educators and parents are very concerned about the new Channels feature on WhatsApp, turning it into another social media platform. Simply getting everyone to leave WhatsApp may not be the ultimate solution to the concerns we face." Full Story By Mendel Educators...

No magic pill for living till 100, but there are nine lessons we can learn: Dan Buettner – Times of India

Dan Buettner has spent years researching Blue Zones, the five places in the world where people live the longest, healthiest lives. With his documentary on the secrets of longevity creating quite a buzz, he spoke to Sunday Times about what centenarians can teach usHave you uncovered...

Stunning $6.75m mansion has BELL BOARD inspired by Downton Abbey

A Texan mansion on the outskirts of Dallas features unique touches such as a servant bell board reminiscent of the one seen in Downton AbbeyThe five bedroom home, which sits on six-acres of land was built in 2017, and is set to enter to market for...

Suella Braverman, UK interior minister, to raise ‘unsustainable’ migration pressures during U.S. visit

Home Secretary Suella Braverman walks on Downing Street on the day of a cabinet meeting, in London, Britain September 5, 2023 REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Sept 24 (Reuters) - British interior minister Suella Braverman will raise the "the unsustainable pressures" created by illegal...

UK’s Braverman Seeks US Support for ‘Blueprint’ on Migration

UK Home Secretary Suella Braverman will travel to Washington on Monday to meet with the heads of the Department of Justice and Homeland Security as she seeks support for the British government’s hardline anti-migration push.Braverman will meet Secretary of Homeland Security Alejandro Mayorkas and Attorney General...

College football scores, updates: Deion Sanders, Colorado blown out by Oregon

Week 4 brings the most loaded college football slate in recent memory with six ranked-on-ranked matchups and that doesn't even include a Florida State-Clemson game that had everyone on the edge of their seats.In one of the marquee games of the day, No. 10 Oregon absolutely...

College football scores, games, updates: Deion Sanders, Colorado trailing early at Oregon

By now, you already know what's in store today. Week 4 brings the most loaded college football slate in recent memory with six ranked-on-ranked matchups and that doesn't even include a Florida State-Clemson game that had everyone on the edge of their seats early in the...

2023 GABF Results | Which Breweries Won Big At This Year’s Competition?

In its second year back after COVID, the Great American Beer Festival certainly felt a bit different on all fronts. As we noted from our day one recap, attendance to the fest felt significantly down compared to previous years and the competition portion saw a...