From Investing.com: 2024-06-24 07:50:44

U.S. index futures varied as investors look to key economic data and the first presidential debate this week. Friday’s PCE price index report is anticipated to show a decrease in inflation. Market expects two rate cuts this year, with a 60.4% chance of a 25-basis-point cut in September according to LSEG’s FedWatch.

Last week saw the S&P 500 post its third consecutive weekly gain with the Dow having its strongest weekly performance in six weeks. Nvidia briefly became the world’s most valuable firm before slipping 1.8% premarket. Semiconductor stocks like Taiwan Semiconductor Manufacturing and Arm Holdings also dropped.

Upcoming events this week include durable goods, jobless claims, GDP figures, and earnings reports from FedEx, Carnival Corp, Micron Technology, and Walgreens. President Biden will debate Trump in Atlanta with both tied in national polls. Futures: S&P 500 up 0.19%, Dow up 0.02%, Nasdaq down 0.14%.

Under Armour fell 3.1% after settling a class-action lawsuit, while ResMed dropped 12.5% after a weight-loss drug trial results. Affirm Holdings rose 4.4% as Goldman Sachs initiated coverage with a “buy” rating.



Read more at Investing.com: Futures mixed as inflation data in focus, Nvidia slips By Reuters