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Investing.com — U.S. stock index futures were little changed in late trading Sunday, showing signs of a slight easing from record highs on hopes for further clues on monetary policy and new developments in the presidential election. It’s showing.
fell 0.1% to 5,141.75 points, but stabilized at 18,340.50 points by 18:53 ET (23:53 GMT). It fell 0.1% to 39,098.0 points.
Wall Street indexes rose to record highs on Friday on continued support from an artificial intelligence-led rally in tech stocks, but also signs of softening in consumer sentiment and manufacturing activity, which the Federal Reserve said earlier this year The expectation is that the Bank will cut interest rates in the near future.
But that momentum now appears to be slowing, especially with stock prices at record highs and a series of important economic data set to be released this week.
It ended Friday at a record high of 5,137.08 points, up 0.8%, and rose 1.1% to a record high of 16,274.94 points. The index rose 0.2% to 39,087.38 points, with recent highs still in sight.
Powell testimony and non-farm employment statistics are awaited.
This week’s focus is squarely on testimony before Wednesday’s House committee and Thursday’s Senate committee.
Powell is expected to largely reiterate the Fed’s cautious stance on holding interest rates in the face of persistent inflation, an idea echoed by several Fed officials over the past two weeks.
Still, markets will be focused on June’s interest rate cut and any signals from central banks about when they may start cutting rates this year.
After Powell’s testimony, February data is expected to be released this Friday and is expected to provide further clues about the state of the labor market, a key consideration for the Fed in moving interest rates. There is also.
Super Tuesday attracts attention as presidential election campaign intensifies
Super Tuesday will be held this week on March 5th, when voting for presidential primaries will be held in 15 states in the United States.
The presidential primary is widely expected to be a rematch between incumbent President Joe Biden and his predecessor Donald Trump.
Still, the ongoing criminal case against Trump and growing anger over Biden’s handling of the Israel-Hamas war are expected to complicate the 2024 election somewhat.
Among other highlights this week, department store chain Macy’s (NYSE:) will be waiting to hear back from a group of investors after it received an upfront takeover offer of $6.6 billion.
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