United States stock futures lifted on Sunday evening (Monday AEST) as investors prepared for a data-heavy week featuring two closely watched U.S. inflation reports.
By 9:40 am AEST (11:40 pm GMT), Dow Jones Industrial Average futures and S&P 500 added 0.2% apiece while Nasdaq 100 futures gained 0.4%.
Market attention is focused on the August producer price index (PPI) and consumer price index (CPI) readings due later in the week.
These releases come after Friday’s weaker-than-expected jobs report, which has raised expectations for a Federal Reserve rate cut later this month.
Trading data from the CME Group FedWatch Tool even suggests the possibility of a half-point cut.
ANZ noted: "The report showed that several sectors – including trade, manufacturing and information – posted outright declines, while the small additions were concentrated in the healthcare and leisure and hospitality sectors."
As of Monday, the S&P 500 remains just 0.8% below its most recent high, while the Nasdaq Composite and Dow are also trading near record levels.
