Dow futures rise 100 points as Wall Street looks ahead

Markets set for positive open as investors await key inflation data

Stock futures rose Monday as Wall Street appears to be like forward to key inflation information to be launched this week.

Dow Jones Industrial Average futures had been up 151 factors, or 0.5%. S&P 500 futures had been up 0.6%, and Nasdaq 100 futures gained 0.7%.

The strikes got here after a successful week for U.S. shares, as all three main averages snapped a three-week losing streak. The Dow added 2.6% on the week, whereas the S&P 500 gained 3.7%. The Nasdaq Composite was 4.1% larger.

Stocks have been unstable forward of the September assembly of the Federal Reserve, the place the central financial institution is predicted to ship its third consecutive 0.75 share level charge hike in an effort to fight excessive inflation.

Wall Street traders had been in search of indicators that the dimensions of future charge hikes is likely to be smaller as inflation cools off, Fed Chair Jerome Powell final week reiterated that he’s “strongly dedicated” to bringing down inflation.

This week, traders are looking forward to the August consumer price index report, scheduled to be launched Tuesday. The report is likely one of the final items of information on inflation the Fed will see forward of its September assembly. Retail gross sales and industrial manufacturing studies can be launched Thursday.

“With the expectation for one more 0.3% enhance within the core charge for August, if the quantity is larger this can be a adverse for shares and bonds. If the report is much less, it is going to be a catalyst for a market rally,” David Donabedian, chief funding officer of CIBC Private Wealth U.S. “Retail gross sales can also be anticipated to be flat for the month of August, because it was for the prior month.”

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