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Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange.

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Stock futures were flat Monday as investors awaited key inflation data for fresh clues about the longevity of the market rally this year. Earnings from some major financial giants and consumer companies are also in focus.

S&P 500 Futures declined slightly, while futures contracts linked to the Dow Jones Industrial Average traded just above the flat line. Nasdaq-100 Futures Contracts fell by about 0.1%.

THE S&P 500 The U.S. economy is coming off its fourth positive week in the past five weeks, amid continued optimism that falling inflation — and any areas of weakness in the economy later this year — could lead to a rate cut by the Federal Reserve.

The June consumer price index, to be released on Thursday, could bolster those hopes if the headline figure shows a slight improvement, as currently expected. Producer price index data will be released on Friday.

Last week, employment data reflected a slight slowdown in the labor market, fueling expectations for a rate cut. But while the U.S. economy added more jobs in June than expected, there was also an unexpected increase in the unemployment rate, from 4% to 4.1%. Traders are currently expecting two interest rate cuts in 2024, the first in September, according to the CME’s FedWatch tool.

“This (June jobs report) leaves upcoming inflation data in the driver’s seat to determine the timing of the first decline…signs of continued moderation in economic growth and the labor market will likely be positive for stocks and high-yield bonds, at least in the near term,” said Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors.

A large number of major banks, including Citigroup And JPMorgan Chasewill kick off the second-quarter earnings season this week. PepsiCo And Delta Airlines are also about to publish their results.

Stocks are coming off a strong week, with the S&P 500 and Nasdaq Composite hitting all-time highs Friday and ending at record closing levels, with the broad market index notching its 34th record close of 2024. The S&P 500 jumped about 0.5% during the day’s session, while the Nasdaq grew by 0.9% while You’re here And Nvidia Stocks jumped. The 30-member Dow Jones Industrial Average gained 0.17%, or 67.87 points, to also end the week in the green.

News Source : www.cnbc.com
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Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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