By Janet H. Cho
Stocks are poised to rise in early trading on Monday as investors await more economic reports, including October's consumer price index, later this week.
At 6:30 p.m. ET on Sunday, Dow Jones Industrial Average futures were up 0.1%; S&P 500 futures were up 0.20%; and Nasdaq Composite futures gained 0.3%.
Federal Reserve Chair Jerome Powell is scheduled to discuss the economic outlook at the Dallas Regional Chamber on Thursday. About 64.9% of traders are expecting another quarter-point interest rate cut at the Fed's December meeting, according to CME's FedWatch tool.
The Dow Jones Industrial Average closed up 4.6% last week to 43,988.99, its 42nd record close this year. It hit an intraday high of 44,157.29 on Friday, according to Dow Jones Market Data.
The S&P 500 closed up 4.7% to 5,995.54, also a new record and its 50th record close of 2024. Both the Dow and the S&P snapped two-week losing streaks.
The Nasdaq Composite gained 5.7% to a record 19,288.78, its 31st record close this year.
Minneapolis Fed President Neel Kashkari on Sunday told CBS News that the inflation impact of a second Trump administration's policies are still largely unknown but a trade war over proposed tariffs could add uncertainty to the outlook.
This week, Fed Gov. Adriana Kugler will discuss central bank independence and the economic outlook at the Latin American and Caribbean Economic Association and the Latin American Chapter of the Econometric Society's 2024 meeting in Uruguay.
Write to Janet H. Cho at janet.cho@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
November 10, 2024 19:03 ET (00:03 GMT)
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