Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024.
Miguel M. Santiago | fake images
Stock futures advanced Monday night as investors await inflation data due at the end of the shortened trading week to get a better picture of the market's outlook.
Futures linked to the Dow Jones Industrial Average added 38 points, or 0.1%. S&P futures gained 0.1%, while Nasdaq 100 futures rose 0.2%.
Stocks are on track to close May on a strong note, after weaker inflation data Earlier this month, better-than-expected quarterly earnings reports lifted sentiment and suggested rate cuts could come sooner than investors had anticipated.
However, recently stronger economic data and new concerns about a possible decline in consumer spending have hurt the outlook for interest rates.
This month, the S&P 500 has advanced 5.3%, while the Nasdaq Composite is up about 8%, after ending last week at a new all-time high. He Dow Jones Industrial Average Meanwhile, it is up 3.3% and surpassed 40,000 for the first time this month.
Heading into this week, investors are keeping an eye on consumer confidence data due out on Tuesday and the April personal income and spending report, which includes the PCE inflation reading, due out on Friday. Several companies are also available to report their earnings results, with names like Wholesale Costco and Ulta Beauty It is expected to give more clarity on the status of the consumer.
