Traders
work
on
the
trading
floor
at
the
New
York
Stock
Exchange
(NYSE)
in
New
York,
August
8,
2022.
Andrew
Kelly
|
Reuters
Stock
futures
were
little
changed
on
Sunday,
as
Wall
Street
awaits
guidance
on
monetary
policy
from
the
Federal
Reserve
this
week.
Futures
tied
to
the
S&P
500
ticked
up
0.1%.
Dow
Jones
Industrial
Average
futures
hovered
near
the
flatline,
while
Nasdaq-100
futures
added
0.2%.
Inflation
concerns
have
pressured
stocks
in
recent
days,
with
the
S&P
500
set
to
enter
Monday
trading
riding
a
two-week
losing
streak.
The
30-stock
Dow
and
Nasdaq
are
also
coming
off
marginal
losses.
A
hotter-than-expected
February
core
and
wholesale
inflation
reading
frustrated
equities
and
sparked
anxiety
that
the
central
bank
may
be
partial
toward
higher
interest
rates
for
longer
before
its
policy
meeting
begins
on
Tuesday.
“Next
week’s
Fed
meeting
could
determine
the
direction
for
the
market,
particularly
if
the
Fed
telegraphs
that
rates
need
to
remain
steady,
even
for
just
a
bit
longer,”
LPL
Financial
chief
global
strategist
Quincy
Krosby
wrote
in
a
Friday
note.
“That
could
be
what’s
needed
to
allow
this
market
to
absorb
gains
and
consolidate
before
the
new
earnings
season
begins.”
According
to
the
CME
FedWatch
Tool,
Fed
funds
futures
are
currently
pricing
in
a
99%
likelihood
that
the
Fed
will
leave
benchmark
interest
rates
unchanged
this
week.
However,
the
expectation
for
a
June
cut
has
ticked
down
in
recent
days
to
about
55%.
On
Wednesday
and
Thursday,
investors
will
also
examine
quarterly
results
from
chipmaker
Micron
Technology
and
shipping
giant
FedEx.
