Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024.
Michael M. Santiago | Getty Images
U.S. stock futures were little changed overnight Monday after the S&P 500 and Nasdaq Composite Index closed at new record highs.
Dow Jones Industrial Average futures rose 39 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.12% and 0.18%, respectively.
of S&P 500 and Nasdaq Composite Index Stocks closed Monday’s session modestly higher, again at all-time highs, as investors await key inflation data and earnings reports later this week. The Composite Index rose 0.1% and the tech-heavy Nasdaq added 0.3%, while the Dow Jones Industrial Average lagged behind, finishing down 31 points, or 0.1%.
The S&P 500 continued to climb. Easing price pressures and slowing growth have investors increasingly optimistic that the Federal Reserve will soon begin easing monetary policy. But others worried a correction is on the way are urging investors to increase their exposure.
“It’s really important to stay broadly diversified,” Courtney Garcia, senior wealth advisor at Payne Capital Management, said Monday on CNBC’s “Closing Bell.” “I don’t see the end of momentum trading here, especially in the short term, but when things change, they change quickly. And when you look at valuations, there’s a lot of opportunity here.”
Federal Reserve Chairman Jerome Powell is scheduled to testify before Congress this week as part of his semi-annual report on monetary policy. Powell is scheduled to first speak before the Senate Banking Committee on Tuesday, then before the House Financial Services Committee on Wednesday.
Headline inflation data is due to be released later this week, with the Consumer Price Index for June on Thursday and the Producer Price Index on Friday.
On the earnings front, PepsiCo and Delta Air Lines are due to report results on Thursday, while banking results for Citigroup and JPMorgan Chase are due to be released on Friday.
— CNBC’s Jeff Cox contributed to this report.
