Dow Futures Rise After Losing Week -Breaking
Investing.com – U.S. stock futures were trading slightly higher during Sunday’s evening deals after major benchmark indices closed lower for the week amid souring risk sentiment as market participants bet that the Federal Reserve will tighten monetary policy aggressively to combat surging inflation.
Trading was steady at 0.1% up by 6:30 pm ET (11:30 GMT)
Investors will monitor new figures for May along with preliminary and. It is predicted that the May annual inflation rate will reach 8.3%, slightly less than its 41-year peak of 8.5% in March.
Last week’s blue-chip dropped 0.9% to its ninth negative week of 10. The and lost 1.2% & 1% last week respectively for their eighth consecutive losing week.
The data show that the U.S. created 390K new jobs in May, surpassing expectations. This was despite concerns of an economic slowdown. Some traders think the Fed could still be aggressive because of the strength of the hiring data.
Rates on the bond market were 2.941%