Stock Futures Little Changed After Record-Setting Week

U.S. equity futures were little changed Monday after key stock benchmarks reached record highs and investors awaited inflation data slated for release later this week.

Futures for the Dow Jones Industrials lost 38 points, or 0.1%, to 39,151.

Futures for the S&P 500 lost 2.5 points, or 0.1%, at 5,099.

Futures for the NASDAQ eased four points to 17,987.

Amazon is joining the 30-stock Dow on Monday, replacing Walgreens Boots Alliance. The Dow’s holdings are weighted according to stock price, not market cap. The addition of the e-commerce giant will increase the index’s exposure to consumer retail.

Stocks are coming into the final week of February on a high note after the major indexes achieved key milestones and registered winning weeks with help from Nvidia’s blockbuster earnings. The blue-chip Dow closed at an all-time high, the S&P at one point in the session broke above 5,100 for the first time, and the tech-heavy NASDAQ Composite touched a 52-week high in Friday’s session.

Investors are now watching whether the AI momentum can last as economic and inflation risks linger. With that in mind, they’re also looking ahead to the monthly personal consumption expenditures price index, the Fed’s favored inflation gauge due out Thursday.

There’s a raft of economic releases on deck, including January durable orders data on Tuesday and January wholesale inventories on Wednesday.

Elsewhere, corporate earnings are winding down but several high-interest names are reporting in the coming week, which could give investors greater insight into the state of tech and the consumer.

In Japan, the Nikkei climbed 0.4% Monday to a new all-time high, while in Hong Kong, the Hang Seng index backed off 0.5%.

Oil prices stepped back 19 cents to $76.30 U.S. a barrel.

Gold prices dulled $8.80 to $2,040.60 U.S. an ounce.

Source link

About The Author