Stock market today: Live updates
S&P 500 futures showed little movement on Sunday night as investors await the latest inflation data and the Federal Reserve policy meeting in the upcoming week. Despite a positive week ending on Friday, with the S&P 500 gaining for the fourth consecutive week, some investors remain cautious.
According to the CME FedWatch Tool, the probability of the Fed pausing rate hikes currently stands at 70% for its June meeting. Along with that, investors will also be monitoring Tuesday’s consumer price index along with the Federal Open Market Committee meeting, in hopes of finding signs of easing inflation.
“I think [this week] is almost one of these big comeuppance moments because if the Fed essentially acknowledges that there’s been progress on inflation, we have a June pause, and maybe even a July pause, I think it’s going to be a green light for some of those groups to finally get a bid,” said Fundstrat’s Tom Lee on CNBC’s “Closing Bell” on Friday.
Despite some investors’ skepticism over the recent stock market rally, others remain optimistic that continued improved inflation data will lead to positive momentum.
FAQs:
Q: What are S&P 500 futures?
A: S&P 500 futures are financial contracts that allow investors to speculate on the future performance of the S&P 500 index.
Q: What is the Federal Reserve policy meeting?
A: The Federal Reserve policy meeting is a gathering of the Federal Open Market Committee, which decides the direction of the country’s monetary policy.
Q: What is the CME FedWatch Tool?
A: The CME FedWatch Tool is a financial forecasting tool that provides the probability of interest rate hikes at upcoming Federal Reserve policy meetings.
Q: What is inflation data?
A: Inflation data tracks the rise in prices of goods and services over time. It is one of the key indicators that the Federal Reserve uses to determine monetary policy.
Q: What is the consumer price index?
A: The consumer price index is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services. It is one of the most widely used indicators of inflation.
Live updates: Today’s stock market performance
S&P 500 futures were mostly unchanged on Sunday as investors looked ahead to the latest inflation data and the upcoming Federal Reserve policy meeting. The S&P 500 futures rose by 0.14%, while the Dow Jones Industrial Average futures rose by 19 points or 0.06%, and the Nasdaq 100 futures advanced by 0.27%. Last week was a positive week for markets, seeing the S&P 500 post its fourth straight week of gains, reaching its highest point since August. Many investors attribute the recent rally to the lack of participation outside of some mega-cap tech stocks. Despite this, signs of easing inflation have given investors hope that the momentum may continue. According to the CME FedWatch Tool, the likelihood of the Fed pausing rate hikes in its June meeting is around 70%. Investors will also be monitoring the Federal Open Market Committee meeting and Tuesday’s consumer price index.