U.S. stock futures were relatively unchanged on Monday night as investors awaited key inflation data expected to be released later in the week. Dow Jones Industrial Average futures rose slightly, while S&P 500 futures and Nasdaq 100 futures also saw modest upticks. The market had a choppy day, with the major averages struggling to build on the comeback rally from the end of the previous week. The S&P 500 ended flat, the Nasdaq Composite rose slightly, and the Dow Jones Industrial Average fell.
Investors are now focusing on upcoming inflation reports on consumer and producer prices to help provide some direction for the market. Last week’s volatile moves, triggered by a disappointing jobs report and the unwinding of the yen carry trade, left the market uncertain. The major averages saw a significant recovery late last week after a tumultuous day on Monday, when the S&P 500 experienced its worst day since 2022. Market sentiment remained mixed, with some indicators suggesting oversold conditions while others did not show a true market flush.
The producer price index, due out on Tuesday, is expected to show a monthly gain of 0.2% in July, in line with the previous month. The consumer price index, expected on Wednesday, is forecasted to show a 0.2% increase from the previous month’s 0.1% decline. Retail sales data later in the week may also be closely watched following concerns about slowing growth stemming from the latest jobs report. Corporate earnings season remains ongoing, with major retail companies such as Home Depot set to report their results.
Overall, the market appears to be in a state of uncertainty as investors await key economic data to provide some clarity and direction. The recent volatility and mixed indicators have left investors cautious, with last week’s wild swings leading to market jitters. As inflation data is expected to be released in the coming days, it may help to provide some insight into the state of the economy and potential market trends. Retail sales data, along with corporate earnings reports, will also be closely monitored as investors look for signs of growth and stability in the market.
