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Stock futures are little changed on Monday

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Traders in the NYSE Floor, June 3, 20,22.

Source: NYSE

After a restful day trading, stock futures saw little change Monday night as investors waited for key inflation data later in the week.

Futures that are tied to Dow Jones Industrial Average rose by 0.01%. S&P 500 futures and Nasdaq 100 futures were also close to the flat line.

All three major averages ended slightly higher in regular trading Monday. After a jump of more than 300 points in the previous day, the Dow ended the day slightly higher at 16 points or 0.1%. The S&P 500 added 0.3%, and the tech-heavy Nasdaq Composite advanced 0.4%.

As the 10-year Treasury yield jumped up to 3.3%, the indexes lost most of the gains they had earlier in the day and reached its highest point in almost a month.

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Monday’s mood was muted with little U.S. data released and the quiet Federal Reserve during its blackout. A lack of earnings reports from major corporations was also a factor.

Investors still trying to determine if the stock market rebound is a bearish rally, or if the market has reached its bottom since the sell-off of this year.

Ed Yardeni (president of Yardeni Research) stated, “Since January 1, we’ve been seeing an elevation sickness when you take a look at the value multiple.” CNBC’s “The Talk” featured him.Closing Bell: Overtime.”

He stated that the market had been overvalued to a great extent. Many of those were in negative cap seats, large names with high cap values, and companies that are related. That area has seen an enormous correction. Now the question is whether or not the market will accept these earnings expectations and whether they are correct.

The earnings week is still light for investors. J.M. Smucker and United Natural Foods are scheduled to report prior to the bell on Tuesday.

Investors are focusing on Friday’s reading of the consumer price index for May, which will be out Friday. If it is lower than the April numbers as predicted, then some may interpret that as evidence of inflation’s peak.

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