U.S. futures climb slightly, with investors focus on inflation data
On Thursday evening, US stock index futures rose slightly, and investors remained cautious before the release of important inflation data, which may affect interest rate expectations.
On Thursday evening, US stock index futures rose slightly, and investors remained cautious before the release of important inflation data, which may affect interest rate expectations.
As of 19:07 Eastern Time (23:07 Greenwich Mean Time), S&P 500 index futures rose 0.1% to 5,552.25 points; The Nasdaq 100 index futures rose 0.2% to 20,087.75 points; Dow Jones index futures fell 0.1% to 39,510.0 points.
Follow PCE inflation data
The focus of the market is mainly on the personal consumption expenditure (PCE) price index data to be released on Friday. This data is a favored inflation indicator by the Federal Reserve and is expected to provide more information for the central bank's interest rate policy.
Expected data shows a slight slowdown in inflation in May, but still significantly higher than the Federal Reserve's annual growth target range of 2%.
At the time of the data release, there were signs of a slowdown in the US economy, which increased the likelihood of the Federal Reserve cutting interest rates this year. The final GDP report for the first quarter released on Thursday showed that the US economy grew slowly during this period.
In addition, the decrease in weekly unemployment benefits applications exceeded expectations, while durable goods orders slightly decreased in May.
US stocks rose slightly in turbulent trading
The signs of a slowdown in the US economy have increased market expectations that the Federal Reserve may begin cutting interest rates this year.
This expectation helped Wall Street achieve a slight increase on Thursday, even as heavyweight chip manufacturer Micron Technology's stock price fell due to lackluster sales prospects.
The S&P 500 index rose 0.1% to 5,482.87 points; The Nasdaq Composite Index rose 0.3% to 17,857.88 points; The Dow Jones Industrial Average rose 0.1% to 39,164.06 points.
Due to the impact of the summer vacation, the Wall Street index has mostly been in a narrow range of fluctuations this week, with low trading activity and volume. Although the index remains near recent historical highs, the market is preparing for a significant correction, especially if the Federal Reserve's attitude becomes more firm.
Several Federal Reserve members warned this week that sticky inflation will force the central bank to maintain higher interest rates for a longer period of time.
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