Stock futures are flat ahead of the first trading day of August
Brendan McDermid | Reuters
U.S. stock futures rose in overnight trading on Sunday as investors geared up for the first trading day of August.The major averages managed to notch their sixth month of gains in July, although volatility increased amid concerns about the economic recovery in the face of the spreading delta Covid variant. The Nasdaq Composite and Dow Jones Industrial Average added about 1.2% and 1.3%, respectively, in July, while the broad S&P 500 gained close to 2.3% last month.
Concerns about inflation also plagued the market, however a key inflation indicator showed lesser-than-feared price pressures on Friday. The core personal consumption expenditures price index year-over-year. It marked a sharp acceleration in inflation, but came in slightly below a Dow Jones forecast of a 3.6% jump.on an annualized basis, considerably less than the 8.4% rate of growth expected by Dow Jones.
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