U.S. stock futures edged lower on Monday morning. This follows a strong rally last week driven by the Federal Reserve’s interest rate cut. They reached notable milestones, crossing the 5,700 and 42,000 levels.
Investors are closely watching several key corporate earnings reports this week. Micron Technology will announce the results on Wednesday. Accenture and Costco will declare results on Thursday.
Key economic data releases on Monday include S&P Global’s Manufacturing and Services sector reports. Investors will also follow speeches from the Fed Presidents of Atlanta, Chicago, and Minneapolis. They are looking for insights into the central bank’s next move.
The U.S. 10-year Treasury yield moved higher on Monday, nearing 3.758%.
Stock futures dip after strong rally
WTI crude oil futures are also increasing, hovering around $71.30 per barrel.
In Europe, markets started the week slightly positive, buoyed by optimism following the Fed’s rate cut. Asia Pacific markets showed mixed trends on Monday.
Last week, the People’s Bank of China kept its benchmark lending rates unchanged. Hong Kong’s Hang Seng Index was down 0.07%, while China’s Shanghai Composite Index and the Shenzhen Component Index were up 0.44% and 0.10%, respectively.
Japan’s markets were closed for the Autumnal Equinox holiday. As the week unfolds, investors remain keenly interested in further economic insights and are also awaiting upcoming corporate earnings reports.
