Stock index futures were mostly flat on Monday, and yields were also unchanged, after the blue-chip Dow ended above the 40K mark for the first time on Friday.
U.S. stocks on Friday ended mixed, as a rally sparked by the latest consumer inflation report continued to stall. Nevertheless, it has been a record-breaking past few days for the markets.
Investors will now turn their attention to Nvidia’s (NVDA) quarterly results slated to be released on Wednesday. The chip giant has become the leading firm in the artificial intelligence race, and its report will be a barometer for the AI craze.
“It will be a quieter week ahead for global macro with perhaps the most interesting event of the week being Nvidia’s earnings on Wednesday,” Deutsche Bank’s Jim Reid said.
The company always reports a couple of weeks after the main stretch of US earnings season is over so it will act as a potent “digestif” to Q1 reporting, Reid added.
There are a few Federal Reserve speakers lined up for today, including, Fed Atlanta President, Raphael Bostic, Fed Vice Chair for Supervision Michael Barr, Fed’s Christopher Waller, Fed Governor Philip Jefferson and Fed Cleveland’s Loretta Mester.
“There are several Fed speakers rushing for the media spotlight, but Fed Chair Powell has made it clear it is the last data release that matters most to Fed policy-making,” UBS’ Paul Donovan said.
