US pre-open: Futures higher as traders brace for data heavy week

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday as traders braced for a data-heavy week, which will include the release of two closely watched inflation readings. As of 1245 BST, Dow Jones futures were up 0.15%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.17% and 0.30% firmer, respectively.

The Dow closed 220.43 points lower on Friday as concerns about the economy overshadowed increased rate-cut projections, as data showed that hiring slowed to a crawl in August.

Traders were looking ahead to two major inflation releases this week, with the latest US jobs report fuelling speculation that the Federal Reserve may move to cut interest rates at its upcoming policy meeting.

The producer price index for August was scheduled for release on Wednesday, followed by the consumer price index on Thursday, with both expected to provide further clarity on the trajectory of inflation and the Fed's next steps after Friday's non-farm payrolls data showed weaker-than-expected hiring in August, reinforcing hopes that the central bank could begin easing monetary policy sooner than previously anticipated.

Rostro's Josh Mahony said: "Friday's US nonfarm payrolls report underscored the weakness evident within the labour market under Trump, with a dour 22,000 payrolls figure putting the ball firmly in Powell's court. With inflation data due later on this week, the lack of any notable surge in price pressures thus far has left markets wondering whether we could, in fact, see a 50bp cut next week."

On the macro front, July consumer credit change figures were slated for release at 2000 BST.

No major corporate earnings were slated for release on Monday.















Reporting by Iain Gilbert at Sharecast.com