Traders work on the ground of the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2022.
Brendan Mcdermid | Reuters
Stock futures have been greater Sunday evening as Wall Street looks ahead to key inflation data to be launched this week.
Dow Jones Industrial Average futures rose 91 factors, or 0.29%. S&P 500 and Nasdaq 100 futures climbed 0.32% and 0.41%, respectively.
The strikes got here after a successful week for U.S. shares, as all three main averages snapped a three-week shedding streak. The Dow added 2.66% on the week, whereas the S&P 500 gained 3.65%. The Nasdaq Composite was 4.14% greater.
Stocks have been risky ahead of the September assembly of the Federal Reserve, the place the central financial institution is anticipated to ship its third consecutive 0.75 proportion level fee hike in an effort to fight excessive inflation.
Wall Street traders had been searching for indicators that the scale of future fee hikes is likely to be smaller as inflation cools off, Fed Chair Jerome Powell final week reiterated that he’s “strongly committed” to bringing down inflation.
This week, traders are trying ahead to the August shopper worth index report, scheduled to be launched Tuesday. The report is among the final items of data on inflation the Fed will see ahead of its September assembly. Retail gross sales and industrial manufacturing studies can be launched Thursday.
“With the expectation for another 0.3% increase in the core rate for August, if the number is higher this will be a negative for stocks and bonds. If the report is less, it will be a catalyst for a market rally,” David Donabedian, chief funding officer of CIBC Private Wealth U.S. “Retail sales is also expected to be flat for the month of August, as it was for the prior month.”
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