RBA:CC - Futures Flat as Investors Weigh Next Fed Policy Move
Stock futures were little changed Monday as investors weighed a potential slowdown, or pause, from the Federal Reserve and braced for a busy earnings week.
Futures for the Dow Jones Industrials advanced 18 points, or 0.1% early Monday to 33,492.
Futures for the S&P 500 eked up 0.5 points to 3,989.
Futures for the NASDAQ Composite jumped 9.25 points, or 0.1%, to 11,686.25.
On Friday, the major averages rallied to finish the week after briefly losing the momentum of the January rally. The NASDAQ posted a slight gain for the week. However, the Dow and S&P each logged losing own weeks. All of the major averages remain in the green for the month. The NASDAQ is leading the others with a 6.44% year-to-date gain.
Investors have been weighing the possibility that the Fed is getting ready to slow the pace of its inflation-fighting rate hikes after economic data last week showed a decline in wholesale prices and retail sales.
Markets have priced in a 99.7% chance of a 25-basis point hike, according to CME Group data, which would bring the interest rate to a targeted range of 4.5%-4.75%.
In Japan, the Nikkei 225 advanced 1.3% Monday, while in Hong Kong, markets were closed for the Lunar New Year.
Oil prices acquired 67 cents to $82.31 U.S. a barrel.
Gold prices dipped 50 cents to $1,927.70 U.S. an ounce.