Global Courant
Traders on the floor of the NYSE
Source: NYSE
S&P 500 futures were little changed Sunday evening as traders looked ahead to the latest inflation data and the Federal Reserve’s policy meeting this week.
S&P 500 futures added 0.13%. Dow Jones Industrial Average futures rose 8 points, or 0.02%, while Nasdaq 100 futures rose 0.27%.
Investors are coming off a positive week for the markets, with the S&P 500 posting its fourth consecutive week of gains and hitting its highest since August. On Friday, the broader market index added 0.11% to close at 4,298.86. The Dow Industrials rose 43.17 points, or 0.13%. The Nasdaq Composite climbed 0.16%.
Many investors point to the lack of participation outside some mega-cap tech stocks as a reason to be suspicious of the recent stock market rally. However, signs of easing inflation have led some investors to hope that the momentum can continue.
“I think[this week]is almost one of these big earnings moments because if the Fed essentially recognizes that there’s been progress on inflation, we’ll have a break in June and maybe even a break in July, I think that it will be the green light for some of those groups to finally get an offer,” Fundstrat’s Tom Lee said Friday on CNBC’s “Closing Bell.”
According to the CME FedWatch Toolthe probability that the Fed will interrupt rate hikes at its June meeting is currently about 70%.
Investors will also pay attention to Tuesday’s consumer price index and the Federal Open Market Committee meeting.
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