Stock futures edged lower Sunday night as investors await key inflation data for further clues on the longevity of this year’s market rally. Earnings from some major financial giants and consumer companies are also on the docket.
S&P futures were down more than 0.1%, while futures tied to the Dow Jones Industrial Average lost 51 points, or 0.1%. Nasdaq 100 futures dipped about 0.1%.
The S&P 500 has rallied about 16.7% this year, and the benchmark index just had its fourth positive week in the last five amid ongoing optimism that an improving inflation backdrop — and any pockets of weakness in the economy later this year — could lead to a Federal Reserve interest rate cut.
The June consumer price index, which will be released Thursday, could bolster those hopes if the headline number shows a slight improvement, as currently expected. Producer price index data will be released Friday.
Last week, labor data reflected a slightly cooling labor market, spurring …