US stock futures rise with inflation, gains in focus By Investing.com

Investing.com– U.S. stock index futures were up slightly in late trading on Sunday, as sentiment remained upbeat after last week’s strong payrolls data, shifting focus to more cues on interest rates and corporate earnings in the following days.

Wall Street rose sharply on Friday after stronger-than-expected data helped ease concerns about a slowing U.S. economy. But the reading also quashed expectations of steep interest rate cuts in the coming months.

rose 0.1 percent to 5,804.50 points, while it was up 0.1 percent to 20,245.50 points by 19:34 ET (23:34 GMT). increased by 0.1% to 5,751.07 points.

Fed comments, CPI inflation on tap

This week has focused squarely on more signals from the Fed, with plenty of officials set to speak in the coming days. Members of the rate-setting commission and are due to speak later Monday, as it is .

Their addresses come before , which are scheduled for Wednesday. The Fed cut rates by 50 bps during the meeting and marked the start of an easing cycle.

Inflation data for September is available later this week and is likely to factor in expectations for US interest rate developments.

This week’s signs come after stronger-than-expected non-farm payrolls data on Friday dashed expectations for a 50-basis-point rate cut in November, with traders now betting the Fed will slow its pace of rate cuts after a cut by 50 basis points in September. showed.

Traders were also seen pricing in a higher terminal rate. While Wall Street has benefited from signs of resilience in the US economy, higher rates are expected to limit that growth in the coming months.

On Friday, it rose 0.9% to 5,751.07 points, remaining close to record highs. The stock rose 0.8 percent to a record 42,352.75 points, while it rose 1.2 percent to 18,137.85 points.

Banks are gearing up to kick off their third quarter earnings season

This week also focuses on the start of the third quarter earnings season, with major banks JPMorgan Chase & Co (NYSE: ), Wells Fargo & Company (NYSE: ) and Bank of New York Mellon (NYSE: ) are scheduled to report quarterly earnings on Friday.

Markets will be watching to gauge whether corporate earnings have persevered against pressure from high interest rates and sticky inflation.

Earnings will pick up pace next week, with more key banking and technology gains in the coming days.