U.S. stock index futures rise
S&P 500 Futures gained 0.2% to 6,863.50 points, Nasdaq 100 Futures added 0.16% to 24,843.0 points, while Dow Jones Futures advanced 0.1% to 49,608.0 points
U.S. stock index futures rose slightly on Sunday evening with trading volumes thin, while investors looked to several upcoming economic prints for more cues on interest rates.
Futures rose after stock market clocked a second straight week of losses, as a mildly softer-than-expected consumer inflation number for January provided little support.
A persistent rout in technology stocks, amid concerns over disruptions from artificial intelligence, also kept stock market under pressure.
S&P 500 Futures gained 0.2% to 6,863.50 points by 00:28 GMT. Nasdaq 100 Futures added 0.16% to 24,843.0 points, while Dow Jones Futures advanced 0.1% to 49,608.0 points.
Stock market indexes were largely muted on Friday after consumer price index inflation data for January read mostly in line with expectations.
Headline CPI came in slightly below consensus, while core CPI grew in line with expectations.
The print provided limited support to stock market, as optimism over potentially lower interest rates in the long term was largely overshadowed by persistent concerns over AI-related disruptions.
A selloff in software and transportation stocks was seen spilling over into financial services, media, and even real estate stocks.
The S&P 500 closed flat at 6,836.17 points on Friday. The NASDAQ Composite dropped 0.2% to 6,836.17 points, while the Dow Jones Industrial Average added 0.1% to 49,500.93 points.
The S&P shed nearly 1.5% last week, while the Nasdaq declined 2.1%. The Dow ended last week flat.
Focus this week is on a host of key economic prints, as well as the minutes of the central bank’s January meeting, for more cues on interest rates.
Industrial production data for January is due on Wednesday, followed by the central bank minutes due later in the day.
Trade data for January is due this week, as is PCE price index data for December. The latter is the central bank’s preferred inflation gauge, and is widely expected to factor into expectations for long-term interest rates.
Purchasing managers index data for February is also due in the coming days.