US stock market futures fell this morning with no major economic data ahead of opening bell. The Dow is down 495 points, S&P 500 -81 points, and Nasdaq -330 points. Friday’s session closed higher after Fed Chair Jerome Powell expressed confidence in the US economy’s ability to withstand proposed tariffs.
The main focus for investors this week will be on Wednesday’s Consumer Price Index (CPI) numbers, which are expected to show a year-over-year headline CPI of +2.9% for February, down from +3.0% in January. This marks the first time in five months that inflation has ticked down.
A reprieve from higher inflation levels would be welcome this week, especially given the potential impact of tariffs on prices. The Producer Price Index (PPI) will also be released Thursday morning, with a recent print of +3.5% for January.
Q4 earnings season is wrapping up, with specialty retailers and tech companies set to report. Oracle Corporation’s fiscal Q3 earnings are expected today, which could impact the company’s growth prospects in AI and cloud-computing spaces.
Investors should also look at five stocks picked by Zacks experts as their top picks for 2024, including Dollar General Corporation, Adobe Inc., and Ulta Beauty Inc.
Source: https://www.nasdaq.com/articles/pre-markets-open-low-data-week-red