US stock futures were flat, as investors anticipate the release of the inflation report later today and the Federal Reserve’s interest rate decision on Wednesday. Market participants were hopeful that data reflecting a slowdown in price pressures during May would support the expectation of a pause from the Fed in its policy meeting.
The U.S. labor Department’s consumer price index (CPI) reading, due at 8:30 a.m. ET, is expected to show inflation rose 0.2% last month compared with a 0.4% rise in April, with core inflation likely to have remain unchanged at 0.4%.
The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday. The May deficit shot up to $240 billion from $66 billion a year earlier, more than offsetting the $176 billion surplus recorded in April. Revenues for May totaled $307 billion, down 21% from $389 billion a year earlier.
China’s central bank lowered a short-term lending rate for the first time in 10 months, to help restore market confidence in the world’s second-largest economy.
WTI crude futures held above $68 per barrel. Gold held below $1,960 an ounce while the yield on the US 10-year Treasury note was little changed above 3.7%.
The S&P 500 and the Nasdaq logged their highest closing levels since April 2022 on Monday, lifted by market heavyweights including Amazon.com, Apple and Tesla.
In the Swing Trading Portfolio RTX and WDC triggered sell signals as price hit resistance levels for gains of over 3% for each position. For more updates and education on Swing Trading, check out the Platinum Channel.
Have a great day.
This information is provided for educational purposes and is not a recommendation to buy or sell a security.
Share this article:
More in Platinum Swing Trading:
Good morning. Market futures are flat this morning this morning as Treasury yields found firmer footing, with investors’ focus now...
October 4, 2023
Good morning. Futures tracking Wall Street indexes inched up on Friday after concerns over interest rates battered stocks in the...
September 22, 2023
Good morning. U.S. stock index futures declined as growth stocks took a hit from a jump in Treasury yields after...
September 21, 2023
Good morning. Wall Street index futures were mixed on Friday as shares of Ford and General Motors as well as...
September 15, 2023