Traders
work
on
the
floor
of
the
New
York
Stock
exchange
during
morning
trading
on
May
17,
2024.
Michael
M.
Santiago
|
Getty
Images
Stock
futures
advanced
Monday
night
as
investors
await
inflation
data
due
at
the
end
of
the
shortened
trading
week
for
a
better
picture
of
the
market’s
outlook.
Futures
tied
to
the
Dow
Jones
Industrial
Average
added
38
points,
or
0.1%.
S&P
futures
gained
0.1%,
while
Nasdaq
100
futures
edged
up
0.2%.
Stocks
are
on
track
to
end
May
on
a
strong
note,
after
softer
inflation
data
earlier
this
month
and
better-than-expected
quarterly
earnings
reports
lifted
sentiment
and
suggested
rate
cuts
could
come
earlier
than
investors
had
anticipated.
Recently,
however,
stronger
economic
data
and
fresher
concerns
about
a
potential
consumer
spending
pullback
have
dampened
the
interest
rate
outlook.
This
month,
the
S&P
500
has
advanced
5.3%,
while
the
Nasdaq
Composite
has
rallied
about
8%,
after
ending
last
week
at
a
fresh
record
high.
The
Dow
Jones
Industrial
Average
is
up
3.3%,
meanwhile,
and
topped
40,000
for
the
first
time
ever
this
month.
Looking
ahead
to
this
week,
investors
are
watching
for
consumer
confidence
data
out
Tuesday
and
the
April
personal
income
and
expenditures
report,
which
includes
the
PCE
inflation
reading, out
Friday.
Several
companies
are
also
on
deck
to
report
earnings
results,
with
names
like
Costco
Wholesale
and
Ulta
Beauty
expected
to
give
more
clarity
on
the
state
of
the
consumer.
