Stock market futures showed little change on Sunday as investors awaited guidance on monetary policy from the Federal Reserve in the coming week.
Futures linked to the S&P 500 hovered around the flatline, with Dow Jones Industrial Average futures edging down by 20 points (0.05%) and Nasdaq-100 futures slightly up by 0.1%.
Inflation worries have been putting pressure on stocks recently, with the S&P 500 looking to start Monday trading after two weeks of declines. Both the Dow and Nasdaq also saw modest losses. The release of a hotter-than-expected core and wholesale inflation report in February has raised concerns in the market, leading to speculations that the Federal Reserve might lean towards keeping interest rates higher for a longer period before its upcoming policy meeting which starts on Tuesday.
LPL Financial’s chief global strategist, Quincy Krosby, mentioned in a note that “the upcoming Fed meeting could determine the market’s direction, especially if the Fed signals the necessity of maintaining steady rates even a little longer.” Krosby added, “This could provide an opportunity for the market to digest gains and consolidate before the start of the new earnings season.”
Source (CNBC)
