Investing.com — U.S. stock index futures were little moved in Monday night trading, tracking quiet trading on Wall Street as expectations for key inflation data and the start of quarterly earnings season discouraged big trades. did.
Stock markets were still reeling from Friday's report of a selloff, with traders further scaling back their expectations that the Federal Reserve would cut interest rates in June.
Stocks were also weighed down by the rise in U.S. Treasury yields to their highest level in four months, amid growing concerns about longer-term interest rates.
It rose 0.08% to 5,257.50 points and 0.1% to 18,314.00 points by 19:12 ET (23:12 GMT). It rose by 0.05% to 39,239.0 points.
CPI Inflation, Fed How Long to Wait for Further Interest Rate Indices
Futures were little moved after weak trading on Wall Street as investors awaited further clues on the direction of U.S. interest rates.
Monday's closing price was 5,202.39 points, but the price ended almost unchanged at 16,253.95 points. It ended with 38,892.80 points.
The big focus on Wall Street this week was the March inflation data. The data, expected to be released Wednesday, is expected to show that inflation could potentially rise and remain well above the Fed's annual target of 2%.
The persistence of inflation is a key issue if the Fed is likely to lower interest rates. A series of officials have warned that rising inflation will delay rate cuts this year.
Further comments from the Fed are expected this week and are expected to be released later Thursday. The central bank has so far given little indication about the timing or extent of rate cuts this year.
Traders appeared to be largely pricing in expectations that the Fed would cut interest rates as early as June. The probability of a 25bp rate cut in June is 54%.
Wall Street banks begin first quarter earnings season
Expectations for the first quarter earnings season also kept Wall Street on edge.
Major U.S. banks are set to begin their first-quarter earnings season this week with JPMorgan Chase & Co. (NYSE:). citygroup Inc (NYSE:) and wells fargo & Company (NYSE:) is scheduled to report earnings on Friday.
Delta Air Lines (NYSE:) and BlackRock (NYSE:) are also scheduled to release their quarterly reports this week.
Investors are watching to see whether Wall Street's biggest companies can justify the huge valuation gains they've seen over the past three months.
