Wall Street is coming off a positive week for the major averages, with the S&P 500 having touched a record intraday high on Friday.
Traders and floor officials react to technical issues on the floor at the New York Stock Exchange on June 3, 2024.U.S. stock futures were slightly lower Monday after a winning week, as traders looked ahead to the Federal Reserve's interest rate decision and May inflation data.
Dow Jones Industrial Average futures fell by 120 points, or about 0.3%. S&P 500 futures and Nasdaq 100 futures pulled back by 0.2%.for the major averages, with the S&P 500 having touched a record intraday high on Friday. The broad market index advanced 1.32%. Meanwhile, the 30-stock Dow registered a 0.29% gain, while the Nasdaq Composite climbed 2.38%.Investors will parse through the Fed's updated projections on the timing and frequency of rate cuts.
Elsewhere, on Monday, investors will also keep an eye on Apple's Worldwide Developers Conference at which the iPhone maker is anticipated to makes its latest software announcements.slipped 0.4% Monday, the first day for the stock reflecting a 10-for-1 split. Shares have been on fire this year, surging more than 144%.The Stoxx 600 index, which includes a broad swath of European stocks, fell 0.8%. France's CAC 40 dropped 2.
Economists polled by Dow Jones anticipate a rise of 3.4% from the year-ago period, and a 0.1% increase on a monthly basis. That's compared to increases of 3.4% and 0.3%, respectively, in the prior reading. Core CPI, which excludes volatile food and energy prices, is expected to show an increase of 3.5% year over year, and a 0.3% gain on the month. Previously, it gained 3.6% and 0.3%, respectively.
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