Stocks opened lower on Monday, at the start of a week in which the focus will be on inflation, interest rates and the start of the second-quarter earnings season.
S&P 500 futures (^GSPC) were down about 0.2%, while futures on the Dow Jones Industrial Average (^DJI) were trading below the flat line. Futures for the high-tech Nasdaq 100 fell 0.3% to lead the losses, after all three major averages closed lower on Friday.
All eyes are on US consumer and producer inflation reports due later this week, which are expected to show that price pressures are easing. That could prompt the Fed to ease rate hikes later this year, though they are still seen as likely to rise in July even after some lull in the June jobs report.
Meanwhile, in China, new price data has raised the specter of deflation in the world’s second-largest economy, as Beijing’s stimulus moves appear to still be powerless.
Moreover, investors are bracing for big-name financial results, with second-quarter reports from major banks like JPMorgan and Citi on the docket on Friday.
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