U.S. Stock Futures Hold Steady as Investors Await Fed Signals and Retail Earnings
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This week, all eyes are on Federal Reserve Chair Jerome Powell, who is expected to provide insights into the central bank's monetary policy for the remainder of the year. Powell will be speaking at the Fed's annual economic symposium in Jackson Hole, Wyoming, a gathering of central bank officials from around the world.
According to CME's FedWatch tool, the fed funds futures market is currently pricing in an 83% probability of a quarter-point rate cut at the Fed's next meeting in September.
In addition, investors are awaiting earnings reports from major retailers for a snapshot of consumer health. Home Depot (HD) is scheduled to report on Tuesday, followed by Lowe's (LOW), Walmart (WMT), and Target (TGT) later in the week.
On Monday's regular trading session, the Dow slipped 0.1%, the S&P 500 edged down slightly, and the Nasdaq Composite rose just under 0.1%.
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