US Stock Futures Hold Up With Inflation, Rate Cuts In Focus By Investing.com

Investing.com– U.S. stock index futures were range-bound in evening trade on Monday, as Wall Street bounced back from last week’s losses, focusing on upcoming inflation data for more clues on interest rates.

Wall Street was hit by its biggest decline in years last week as tech stocks lost more ground and as investors gauged a potentially weaker outlook for the US economy.

US stocks also took limited gains from Apple Inc (NASDAQ: ), which moved little after unveiling its latest iPhone lineup.

rose 0.1% to 5,484.25 points, while holding steady at 18,700.25 points by 20:04 ET (00:04 GMT). they remained unchanged at 40,873.0 points.

CPI data on tap as September rate cut looms

This week the focus is squarely on inflation data for August due on Wednesday. The reading is expected to show that inflation fell further in August, with any reduction in inflation favoring lower interest rates.

Wednesday’s reading is likely to take into account expectations for interest rates this year and comes just a week before a period when the central bank is expected to cut interest rates by 25 basis points.

Markets are pricing in a 72 percent chance the Fed will cut rates by 25 bps, it showed. The rate cut bodes well for stock markets, giving investors some relief after a sharp decline last week.

The value increased by 1.2% to 5,471.05 points, while on Monday it increased by 1.2% to 16,884.59 points. It rose by 1.2% to 40,829.59 points.

This week also focuses on a debate between presidential candidates Donald Trump and Kamala Harris on Tuesday, which is expected to provide more clarity on the 2024 election.

Apple Unchanged After iPhone 16 Reveal, Arm OVERVOLTAGES

Wall Street picked up Apple Inc averages after the Cupertino tech giant unveiled its latest lineup of iPhone models.

The models will include a number of new artificial intelligence features that are expected to help boost device sales for the company, which has otherwise struggled with weaker sales over the past year.

But Apple’s stock moved little after the reveal, with analysts raising some concerns about the company’s plans for a staggered rollout of its AI features.

Meanwhile, British chip designer Arm Holdings (NASDAQ: Arm architecture.