From Investing.com: 2024-05-19 20:03:03

U.S. stock index futures rose slightly after Wall Street’s record highs. S&P 500 futures rose 0.1% to 5,334.25 points and Nasdaq futures rose 0.1% to 18,661.50 points. Dow futures rose 0.1% to 40,179.0 points. More cues on interest rates, PMI data expected this week.

Focus this week is on more cues from the Federal Reserve regarding interest rates. Minutes of late-April meeting to be released Wednesday. Fed Chair Powell has suggested rates could come down in 2024. Markets watching for any signs of cooling in PMI data for cues on interest rates.

Wall Street indexes reached new highs but lost momentum due to uncertainty over Fed rate cuts. Overheated valuations, particularly in tech, limited further gains. S&P 500 rose 0.1% to 5,303.27 points, Nasdaq fell 0.1% to 16,685.97 points, and Dow rose 0.3% to 40,003.59 points on Friday.

Nvidia’s Q1 earnings report is expected this week. Investors eager to see if the AI company can justify its increased valuation. Revenue expected at $24.8 billion, up from $7.2 billion last year. Earnings per share expected at $5.57, up from $1.09 last year. Nvidia’s results may impact other tech stocks.



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