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U.S. stock futures were trading slightly higher during Sunday’s evening deals, after major benchmark indices posted their greatest weekly losses in 3 months, with investors remaining cautious amid persistent inflation fears ahead of Federal Reserve’s two-day meeting and rate decision later this week.
By 7:10pm ET (11:10pm GMT) Dow Jonas Futures and S&P 500 Futures were up 0.2% apiece, while Nasdaq 100 Futures were flat at 11,862.7.
Ahead of the week, market participants will be closely focused on the Federal Reserve’s interest rate decision following a hotter-than-expected CPI reading boosted expectations for a third consecutive 0.75% rate hike, lifting Fed Funds rate to a target range of 3% to 3.25%.
Investors will also be monitoring building permits and existing home sales, as well as the S&P Global Composite PMI and initial Jobless claims on Thursday.
On the corporate earnings front, companies including Darden Restaurants Inc (NYSE: DRI), Costco Wholesale Corp (NASDAQ: COST), General Mills Inc (NYSE:GIS) and Lennar Corporation (NYSE: LEN) are slated to release results.
During Friday’s trade, the Dow Jones Industrial Average fell 139.4 points or 0.5% to 30,822.4, the S&P 500dipped 28 points or 0.7% to 3,873.3 and the NASDAQ Composite lost 104 points or 0.9% to 11,448.4.
On the bond markets, United States 10 Years yields were at 3.451%.
