Investing.com-- U.S. stock index futures traded in a calm fashion Monday, seeing some stability after last week's wild swings, with the focus turning to key inflation data this week.
At 06:35 ET (10:35 GMT), Dow Jones Futures rose 40 points, or 0.1%, S&P 500 Futures climbed 10 points, or 0.2% and Nasdaq 100 Futures gained 50 points, or 0.3%.
CPI data awaited for more cues
The focus this week is squarely on consumer price index inflation data, due on Wednesday, for more cues on the economy and cooling inflation.
The reading is expected to have cooled slightly in July from the prior month - a trend that is likely to ramp up optimism over lower interest rates.
Investors are split over a 25 basis point or 50 basis point cut in September, according to CME Fedwatch. But the Federal Reserve is widely expected to begin cutting rates then, amid growing signs of a cooling U.S. economy.
The Fed recently signaled that any more encouraging economic data will set the stage for a September rate cut, and that it did not need to see inflation reaching its 2% annual target to begin trimming rates.
Wall Street recoups last week's losses
Wall Street indexes closed mildly higher on Friday, ending the week largely flat.
A rout in technology stocks and fears of a U.S. recession saw U.S. stock indexes initially log steep losses last week, with the Nasdaq entering correction territory from recent peaks.
But bargain buying into heavyweight tech stocks, coupled with the notion that fears of a U.S. recession may be overblown, helped Wall Street recoup most losses.
Beyond Wednesday’s inflation data, some earnings are also on tap this week, although the second quarter earnings season has now mostly wound down.
Home Depot (NYSE:HD) and Cisco Systems (NASDAQ:CSCO) are set to report in the coming days.
Crude climbs once more
Crude prices rose Monday, climbing for the fifth successive session as concerns over the U.S. economy waned while geopolitical tensions in the Middle East remained a support.
By 06:30 ET, the U.S. crude futures (WTI) climbed 1.1% to $77.68 a barrel, while the Brent contract rose 0.9% to $80.36 a barrel.
Both crude benchmarks gained more than 3% last week, the first positive week in five.
Iran and Hezbollah have vowed to retaliate for the assassinations of Hamas leader Ismail Haniyeh and Hezbollah military commander Fuad Shukr.
Axio reported on Sunday that Israeli intelligence believes Iran will attack Israel directly and within days.
(Ambar Warrick contributed to this article.)
This content was originally published on Investing.com
