U.S. stock index futures rose in evening deals on Sunday after Wall Street bounced past hotter-than-expected payrolls data, with focus now turning towards an upcoming inflation reading for more cues on interest rates.
U.S. stock index futures rose in evening deals on Sunday after Wall Street bounced past hotter-than-expected payrolls data , with focus now turning towards an upcoming inflation reading for more cues on interest rates. Data on Friday saw traders drastically scale back expectations that the Federal Reserve will cut interest rates by as soon as June- a notion that is expected to limit any major upside in Wall Street .
Wall Street indexes ended higher on Friday despite the stronger-than-expected payrolls data, benefiting from some bargain hunting after trending lower for most of the week. U.S. stock benchmarks still clocked their first weekly loss in three weeks. (CPI) data for March, due on Wednesday. While the reading is expected to show some cooling in inflation, it is still expected to remain well above the Federal Reserve’s 2% annual target. The reading also comes after repeated warnings from Fed officials that sticky inflation will delay interest rates early in 2024. Minutes of the Fed’s March meeting are due on Wednesday, and are also expected to provide more cues on potential rate cuts. But Friday’s inflation data and several hawkish comments from Fed officials saw traders largely price out expectations for a rate cut in June. Traders now see a roughly 51 % chance for a 25 basis point cut in June, according to the Focus will also be on the first-quarter earnings season, to gauge whether major U.S. stocks can justify a recent run-up in valuations
U.S. Stock Futures Wall Street Payrolls Data Inflation Interest Rates Federal Reserve CPI Rate Cuts Earnings Season Valuations
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