On December 29, 2023, traders took action on the last day of annual trading on the New York Stock Exchange (NYSE).
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Stock index futures were little changed on Sunday as Wall Street looks ahead to fresh inflation data this week.
Futures and S&P 500 Index fell 0.1%, while Nasdaq 100 Futures Hovering around the flat line. Dow Jones Industrial Average Futures It fell 37 points, or 0.09%.
Investors will learn about the progress of the Federal Reserve’s monetary policy through the April Consumer Price Index report released on Wednesday. Despite a string of higher-than-expected inflation data in recent months, traders are hopeful the Fed will largely refrain from resuming rate hikes. April’s CPI data will be a key gauge of whether stocks can hold steady after a stronger-than-expected first-quarter earnings season.
Performance so far has helped stocks remain resilient despite significant inflationary pressures. As of Friday, 92% of S&P 500 companies had reported earnings, with 80% beating Wall Street forecasts, according to FactSet.
“Earnings expectations may have become too pessimistic ahead of first-quarter 2024 results,” Barclays analyst Venu Krishna wrote on Friday. improved market sentiment.
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