U.S. Stock Futures Dip Ahead of Inflation Data Release
Investors Await Inflation Data and Q1 Earnings Reports
U.S. stock index futures edged lower on Monday as investors anxiously awaited the latest inflation reading and the start of the first-quarter earnings season.
Market Indices Show Slight Decline
At 06:40 ET (10:40 GMT), the Dow Jones fell 25 points, the S&P 500 eased 7 points, and the Nasdaq slipped 20 points. Despite a stronger-than-expected job report, Wall Street indices closed higher on Friday, but the week saw significant losses as expectations for a Fed interest rate cut diminished.
Inflation Data and Fed Meeting Minutes in Focus
The focus is now on the March Consumer Price Index (CPI) data, expected to show a slight cooling in inflation. The Federal Reserve’s meeting minutes are also due, offering insights into potential rate cuts. Hawkish comments from Fed officials and strong economic data have reduced expectations for a rate cut in June.
Start of Q1 Earnings Season
This week marks the beginning of the first-quarter earnings season, with major U.S. companies reporting their financial performance. Investors will closely watch reports from JPMorgan Chase, Citigroup, Wells Fargo, Delta Air Lines, and BlackRock to assess market valuations and performance.
Oil Prices Drop Amid Middle East Tensions
Oil prices fell sharply on Monday as tensions in the Middle East eased. Ceasefire talks between Israel and Hamas raised hopes for stability in the region, leading to a decline in oil prices. Last week, oil prices surged to five-month highs on supply disruption fears.
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