Stock futures rose slightly as Wall Street prepared for the start of the second quarter.
, released Friday during the market closure for Good Friday, showed inflation rose 2.8% in February, which is in line with expectations. The inflation gauge closely watched by the Federal Reserve also rose 0.3% from a month ago, the Commerce Department said.
"This showcases progress on inflation is slow-moving and provides one more bullet in the bandolier of those who are calling the bluff on the Fed's next rate cut," said Giuseppe Sette, Toggle AI's co-founder and president."As a reminder, the Fed keeps rates consistently higher than inflation, except when they foresee a slowdown."Markets also wrapped up a winning March and their fifth consecutive positive month, with the S&P and Dow rising 3.1% and 2.
Fed must get ‘more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist saysAccording to Ryan Detrick, chief market strategist at Carson Group, this rally could be poised to continue. He noted that the S&P finished the year higher than 10 out of the 11 previous times it notched a gain of 10% or more in the first quarter.that kicks of Monday, with construction spending for February and ISM manufacturing data for March due Monday.
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