Stock Futures Inch Higher as Wall Street Looks to Rebound From Losing Week
Stock futures moved up slightly on Sunday evening as Wall Street looks to shake off a losing week.
Futures tied to the Dow Jones Industrial Average added 36 points, or 0.1%. Those for the S&P 500 and Nasdaq 100 ticked up 0.1% and 0.2%, respectively. Wall Street is coming off a negative week, with the tech sector being a source of concern. The tech-heavy Nasdaq Composite fell 3.9% last week, while the S&P 500 and Dow dropped 1.3% and 0.3%, respectively.The fight against inflation is likely to be a market driver this week. Investors will get a look at fresh data, with the consumer price index for March due out on Tuesday and the producer price index following on Wednesday.
Cleveland Fed President Loretta Meester told CBS'"Face the Nation" on Sunday that she still believes the Fed can get inflation under control without causing major damage to the economy. "If you look at the risks, given what's happening in the world and in the economy, there is an increased risk [of recession]," she said."But I remain optimistic, and certainly my modal forecast on what is going to happen this year is that the expansion will continue."
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