U.S. stock futures were nearly unchanged Monday night as investors looked ahead to key inflation reports expected this week.
Dow Jones Industrial Average futures ticked up 19 points, or 0.05%, while S&P 500 and Nasdaq 100 futures inched up by 0.02% and 0.01%, respectively.
Monday’s regular trading session saw the major indices struggling to build on last week’s rebound. The S&P 500 stayed flat, gaining just 0.23 points.
The Nasdaq Composite rose 0.21%, while the Dow Jones Industrial Average dipped 0.36%.
With attention now turning to this week’s inflation data, investors are seeking direction in a market still reeling from last week’s volatility.
The upcoming reports on consumer and producer prices could provide that clarity after a tumultuous period, marked by a disappointing jobs report and disruptions caused by the unwinding of the yen carry trade.
In such an environment, business leaders are closely monitoring these economic indicators to make informed decisions.
Last week’s rally followed the S&P 500’s worst day since 2022. However, some experts remain cautious.
“Markets got a little oversold last week, but on things like the percentage of names above their 50-day moving average, we didn’t get oversold at all, which just suggests we didn’t see a true flush,” said Cameron Dawson, Chief Investment Officer at NewEdge Wealth, speaking on CNBC’s “Closing Bell.”
The producer price index (PPI), which measures wholesale prices, is due out on Tuesday and is expected to show a 0.2% rise in July, consistent with the previous month, according to Dow Jones consensus estimates.
Meanwhile, the consumer price index (CPI), due Wednesday, is anticipated to post a 0.2% increase for July, following a 0.1% decline in June.
Later in the week, retail sales data may also draw attention, especially after the latest jobs report revived concerns about slowing economic growth, placing consumer spending under closer scrutiny.
Corporate earnings season also continues, with major retailers set to report results.
Home Depot will release its earnings on Tuesday, providing further insights into consumer health.
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