US stock futures steady amid pre-inflation jitters By Investing.com

Investing.com– U.S. stock index futures were little moved in evening trade on Monday after a close session on Wall Street, as anticipation of key inflation data later this week deterred any big trades.

But Wall Street appeared to have found some composure after last week’s wild swings, in which speculation about a US recession fueled stock market volatility.

settled at 5,471.0 points, while remaining at 18,645.25 points by 19:06 ET (23:06 GMT). rose slightly to 39,402.0 points.

CPI inflation awaited more signs of a rate cut

This week the focus is squarely on inflation data due on Wednesday for more clues about the US economy.

Analysts expect inflation to have fallen slightly in July compared to the previous month, increasing confidence that inflation is easing and giving the Federal Reserve more room to start cutting interest rates.

Traders are split between a 25 and 50 basis point cut in September, with any sign of cooling inflation likely to give more weight to a bigger cut.

But uncertainty ahead of the reading kept Wall Street trading sideways, with investors especially wary after a spike in volatility last week.

The stock closed at 5,344.39 points, while on Monday it rose 0.2% to 16,782.57 points. It decreased by 0.4% to 39,357.01 points.

Beyond the CPI reading, data is also due later this week and will provide more clues on the economy. Any sign of cooling activity, while supporting the case for interest rate cuts, is also likely to heighten concerns about slowing economic growth.

Earnings for retailers, chipmakers due this week

While the second-quarter earnings season is largely over, revenue from major retailers Home Depot Inc (NYSE: ) and Walmart Inc (NYSE: ) are next this week.

The two are poised to provide more clues on the strength of consumer spending, which in turn ties into the outlook for inflation and the economy.

Strong consumer spending has largely supported US inflation this year, despite pressure from high interest rates.

More chipmaking earnings are also due this week, Applied Materials Inc (NASDAQ: ) is due to report on Thursday.