U.S. stock futures were relatively unchanged on Sunday night after a positive week for Wall Street, with the Dow Jones Industrial Average futures rising slightly by 13 points. The S&P 500 and Nasdaq 100 futures remained flat. The previous week saw the S&P 500 reaching a record intraday high and advancing 1.32%, while the Dow Jones gained 0.29% and the Nasdaq Composite climbed 2.38%. Notably, chipmaker Nvidia saw a 10% increase in its stock price, reaching a market capitalization of over $3 trillion for the first time.
Investors are now looking ahead to the Federal Reserve’s interest rate decision and May inflation data expected on Wednesday. After a strong jobs report on Friday, suggesting that the central bank may hold off on lowering rates, the Fed’s updated projections on the timing and frequency of rate cuts will be closely watched. Currently, markets are pricing in only one rate cut this year in November, according to the CME FedWatch tool. Macquarie’s David Doyle anticipates that rate cuts may not commence until 2025, citing both positive labor demand growth and a rise in unemployment as factors that could influence the Fed’s decision.
Meanwhile, on Monday, investors are also anticipating Apple’s Worldwide Developers Conference where the tech giant is expected to make software announcements. This event could have an impact on Apple’s stock price and the overall tech sector. Overall, traders are cautiously optimistic after a positive week, but are waiting for more clarity on the Fed’s policy decisions and economic data in the coming days.
Overall, the U.S. stock futures remained stable on Sunday night after a successful week for Wall Street, with the S&P 500, Dow Jones, and Nasdaq Composite all seeing gains. Investors are now closely watching the Federal Reserve’s interest rate decision and May inflation data on Wednesday, as well as Apple’s Worldwide Developers Conference on Monday. The market is cautiously optimistic but awaiting more clarity on the Fed’s policy decisions and their potential impact on the economy.
Overall, U.S. stock futures remained relatively unchanged on Sunday night following a positive week for Wall Street. The S&P 500, Dow Jones, and Nasdaq Composite all saw gains, with chipmaker Nvidia leading the way with a 10% increase in its stock price. Investors are now turning their attention to the Federal Reserve’s upcoming interest rate decision and May inflation data, as well as Apple’s Worldwide Developers Conference on Monday. Traders are cautiously optimistic but are awaiting more clarity on the Fed’s policy decisions and how they may affect the economy in the coming days.
