US stock futures inch lower, PCE inflation test looms this week
Investing.com-- U.S. stock index futures fell slightly in evening deals on Sunday after fears of high interest rates saw volatile swings on Wall Street, with focus this week turning to key PCE inflation data for more cues on rates.While the reading is expected to show some cooling in personal spending and consumption, it also comes after a string of warnings from the Fed that sticky inflation will delay any potential interest rate cuts this year.
These warnings saw investors steadily price out expectations for a rate cut in September, which was initially pegged as the point when the Fed will begin loosening policy. TheWall Street indexes clocked some record highs last week on support from positive earnings, particularly from market darling NVIDIA Corporation (NASDAQ:While the S&P ended last week largely flat, the Dow, which is seen as more economically sensitive, fell more than 2%.
The S&P 500 ended up 0.7% at 5,304.72 points on Friday, while the Nasdaq closed up 1.1% at a record high of 16,920.79 points. The Dow ended flat at 39,069.59 points.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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