Stock futures were relatively flat on Monday night after the S&P 500 and Nasdaq Composite closed at new record highs. Dow Jones Industrial Average futures saw a slight increase of 0.1%, while S&P 500 futures and Nasdaq 100 futures rose by 0.12% and 0.18% respectively.
Investors are eagerly awaiting key inflation data and earnings reports set to be released later in the week. The S&P 500 and Nasdaq Composite both closed at all-time highs on Monday, with the S&P 500 edging up by 0.1% and the Nasdaq gaining 0.3%. However, the Dow Jones Industrial Average closed down by 0.1%.
The market continues to see gains as concerns over inflation and slowing growth ease, leading investors to believe that the Federal Reserve may soon adjust its monetary policy. Despite this optimism, some experts are advising investors to diversify their portfolios in preparation for potential market corrections.
Courtney Garcia, a senior wealth advisor at Payne Capital Management, emphasized the importance of diversification, stating, “You really want to stay broadly diversified. I don’t think that the momentum trade here is ending, especially in the short term, but when it changes, it’s going to change fast. And when you’re looking at valuations, there’s a lot of opportunities here.”
Federal Reserve Chair Jerome Powell is scheduled to testify before Congress this week to provide an update on monetary policy. Key inflation data, including the June consumer price index and producer price index, is also set to be released later in the week. Additionally, earnings reports from companies such as PepsiCo, Delta Air Lines, Citigroup, and JPMorgan Chase are eagerly anticipated.
As the market continues to reach new highs, investors are keeping a close eye on upcoming data and earnings reports to gauge the future direction of the stock market.
