US stock index futures remain largely unchanged before the Wall Street earnings season approaches
US stock index futures showed little volatility in trading on Monday evening, with Wall Street remaining calm as key inflation data is released and the quarterly financial reporting season begins.
US stock index futures showed little volatility in trading on Monday evening, with Wall Street remaining calm as key inflation data is released and the quarterly financial reporting season begins.
After the non farm payroll report was released last Friday, traders reduced their bets on the Federal Reserve's interest rate cut in June. In addition, as the yield of 10-year treasury bond rose to a four month high, the market became more worried about the rise of long-term interest rates, which put pressure on the market.
As of 19:12 ET (23:12 GMT), S&P 500 index futures rose 0.08% to 5257.50 points, while Nasdaq 100 index futures rose 0.1% to 18314.00 points. The Dow Jones index futures rose 0.05% to 39239.0 points.
On Monday, the S&P 500 index closed at 5202.39 points, while the Nasdaq Composite Index remained stable at 16253.95 points. The Dow Jones Industrial Average closed at 38892.80 points.
This week, Wall Street's main focus is on the Consumer Price Index inflation data for March. The data will be released on Wednesday, and inflation is expected to rise and exceed the Federal Reserve's annual target of 2%.
Persistent inflation has always been the main controversial focus of the Federal Reserve's expected interest rate cuts. Some policymakers warn that strong inflation may delay any interest rate cuts this year.
More comments from the Federal Reserve are expected this week, and the minutes of the March meeting will be released later on Thursday.
Traders generally believe that the possibility of the Federal Reserve cutting interest rates as early as June has decreased. The Fedbatch tool of the Chicago Stock Exchange shows a 54% chance of a 25 basis point rate cut in June.
In addition, Wall Street banks will kick off the first quarter financial reporting season. The approaching financial reporting season has also made Wall Street nervous.
Major US banks will begin releasing their first quarter financial reports this week, including JPMorgan Chase, Citigroup, and Wells Fargo, which will release their performance data on Friday.
Delta Airlines and BlackRock will also release quarterly performance reports this week.
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