U.S. stock futures showed mixed results on Monday morning after a decline at the end of last week. Dow Jones Industrial Average futures saw a 0.2% increase of 75 points, while S&P 500 contracts rose less than 0.1% and Nasdaq Composite futures dropped by 0.2%. On Friday, both the S&P and Nasdaq experienced a 0.2% decrease, with the Dow closing with minimal change.
Investors remain optimistic about the potential impact of artificial intelligence on boosting company profits, with chipmaker Nvidia being highlighted for its significant contributions. There is also hope for interest rate cuts by the Federal Reserve later this year. The upcoming release of the core personal consumption expenditures index, a key measure of inflation favored by the Fed, is set for this Friday.
Market expert Emily Bowersock Hill from Bowersock Capital Partners believes that the bullish momentum in the stock market will likely persist in the short term. Positive inflation data is anticipated to support the market and pave the way for the Federal Reserve to move forward with its planned rate cut.
Early on Monday, bond yields experienced a slight decline, with the 10-year Treasury bond yielding at 4.251% and the two-year return at 4.738%. Investors will be closely monitoring these movements along with other indicators to assess the overall health of the market and make informed decisions regarding their investments.
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https://www.barrons.com/livecoverage/stock-market-today-062424