Spencer Pratt | Getty Images
Stock futures were almost flat Monday night as investors awaited the start of the June Federal Reserve policy meeting.
Dow Jones Industrial Average Futures It fell 29 points, or 0.1%. S&P 500 Index Futures and Nasdaq 100 Futures Both are also trading close to the flat line.
The moves come after a quiet but noteworthy day on Wall Street. this S&P 500 Index and Nasdaq Index rose modestly, hitting a new record close, while Dow Chemical It rose slightly by nearly 0.2%.
It comes as traders prepare for the Federal Reserve’s two-day policy meeting, which begins on Tuesday. The meeting will end on Wednesday with an interest rate policy decision, followed by a press conference hosted by Fed Chairman Jerome Powell.
While investors anxiously await policy announcements, they have largely priced in borrowing rates remaining unchanged. Fed funds futures show little chance of rate cut at this week’s meeting CME’s FedWatch Tool.
Ahead of the Fed’s decision, investors will analyze small business data released on Tuesday. On Wednesday, they will pay close attention to May consumer price index data expected in the morning.
Zachary Hill, head of portfolio management at Horizon Investments, said: “There are two big events happening in the middle of this week: the Consumer Price Index (CPI) on Wednesday morning and the Fed meeting on Wednesday afternoon. ” “We are just waiting. A little earlier than these.”
When it comes to corporate profits, traders will monitor the results of Oracle and scarlet letter It is scheduled to take place after the bell on Tuesday.
About The Author
