From Investing.com: 2024-06-23 19:49:54

U.S. stock index futures rose Sunday, near record highs, as investors awaited key inflation data for interest rate clues. Wall Street reacted to strong PMI readings last week, raising concerns about a robust economy and higher rates. and futures gained by evening.

Investors eye the PCE inflation data due Friday, the Fed’s preferred gauge affecting interest rate decision. Expected to show a slight cooling in May but above the 2% target. Record highs seen despite slim rate cut chances.

Market due for potential profit-taking, especially in tech sector after strong gains. and dipped on Friday, with flat. FedEx, Micron earnings this week, seen as economic bellwethers. FedEx reports Tuesday, while Micron anticipated a demand spike in AI. Nike and Walgreens earnings also expected Thursday.



Read more at Investing.com: US stock futures inch higher with inflation cues on tap By Investing.com