U.S. stock futures edged higher early on Monday, ahead of a week ahead of many expected events in the fight against inflation.
Futures for the Dow Jones Industrial Average added 50 points, or 0.15%. The S&P 500 and Nasdaq 100 rose 0.2% and 0.26%, respectively.
Action in the future comes as investors do This week the focus was on inflation. On Tuesday, the November consumer price index will be released, and traders will be looking for a sign that inflation is easing.
The Federal Reserve has a two-day meeting starting that day. The central bank is expected to announce another rate hike on Wednesday, although traders expect a smaller move than in recent months.
In addition to the expected rate hike, the Fed’s updated economic forecasts and Chairman Jerome Powell’s press conference could be key signals of what the Fed intends to do in the coming months.
“Financial conditions have eased dramatically since the October CBI reading released last month, so the Fed could use the December FOMC meeting to do just that.K. …We think markets are more bullish on rates after the first quarter, and we expect Powell to take a more hawkish tone, with points indicating higher prices in the long term than what futures markets are currently pricing in. said Cliff Hodge, Chief Investment Officer of Cornerstone Wealth.
Wall Street is coming off a rocky week All three major averages are losing ground. The Dow fell 2.77% in its worst week since September. The S&P 500 fell 3.37%, while the Nasdaq Composite fell 3.99%.
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