Markets Waver as Investors Await Key Inflation Data
Markets Waver as Investors Await Key Inflation Data
Stock futures showed little movement early Monday as Wall Street prepared for crucial inflation data releases this week. This follows a period of investor caution, with markets experiencing a slight pullback on Friday as profit-taking occurred after the S&P 500 reached a new record high and Nvidia reported strong earnings.
Last week’s inflation figures indicated that rising prices remain a significant concern heading into the new month. While the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all saw declines on Friday, major indexes still closed out August with solid gains, with the Dow advancing over 3%, the S&P 500 nearly 2%, and the Nasdaq gaining 1.6% for the month.
Economists are closely watching the Federal Reserve’s stance on interest rates, particularly after July’s Core PCE (Personal Consumption Expenditures) index, a key inflation gauge, rose 2.9%. This figure, while in line with expectations, marked an acceleration from the previous month and represented the highest level since February. Analysts suggest the Fed’s decision on potential rate cuts will heavily depend on whether labor market weakness continues to outweigh the risks of escalating inflation, with some still favoring a September rate adjustment.
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