Investing.com– U.S. stock index futures were relatively flat in evening trading on Sunday, as Wall Street braces for more cues on inflation and the Federal Reserve’s next moves.
After a strong rally last week that saw Wall Street indexes hit record highs, investors are now facing the possibility of some consolidation as traders look to lock in profits. The recent surge was fueled by the Fed’s indication that it will cut interest rates multiple times this year, as well as excitement over artificial intelligence stocks like NVIDIA Corporation (NASDAQ:).
However, Friday saw a slight pullback, with the falling 0.1% and the rising 0.2%, while the slipped 0.8%. Despite this, all three indexes are still up significantly for the first quarter of 2024.
Looking ahead, investors are keeping a close eye on upcoming inflation data, particularly the PCE inflation report due on Friday. With the Fed closely monitoring inflation levels as a key factor in its interest rate decisions, any surprises in the data could impact market sentiment.
In addition, a number of Fed officials are scheduled to speak this week, including and . Their comments could provide further insight into the central bank’s thinking on monetary policy.
Overall, the markets remain on edge as they await more clarity on inflation and the Fed’s next steps, with the potential for further volatility in the days ahead.
