Investing.com– U.S. stock index futures edged higher late Sunday as sentiment remained upbeat following last week’s strong payrolls data, with attention turning to other indexes on interest rates and corporate profits in the days to come.
Wall Street rose sharply on Friday after higher-than-expected data helped ease concerns about the slowing U.S. economy. However, the figures also dashed expectations for significant interest rate cuts in the coming months.
The rose 0.1% to 5,804.50 points, while the rose 0.1% to 20,245.50 points as of 7:34 p.m. ET (23:34 GMT). The rose 0.1% to 5,751.07 points.
Fed Comments, CPI Inflation on Tap
This week, the focus has been on new signals from the Fed, with a series of officials expected to speak in the coming days. Members of the rate-setting committee are expected to speak later Monday, as will .
These speeches will precede the , expected Wednesday. The Fed cut rates by 50 basis points during the meeting, marking the start of an easing cycle.
September data is expected later in the week and is expected to influence expectations for the movement of US interest rates.
This week’s clues come after higher-than-expected nonfarm payrolls data on Friday erased expectations for a 50 basis point rate cut in November, with traders now betting the Fed will slow its pace rate cut after a 50 basis point reduction in September, according to the tool.
Operators also took into account a higher terminal rate. While Wall Street has advanced on signs of resilience in the U.S. economy, higher rates are expected to limit that advance in the months to come.
The index rose 0.9% on Friday to reach 5,751.07 points, remaining close to its record highs. The rose 0.8% to a record 42,352.75 points, while the rose 1.2% to 18,137.85 points.
Banks set to kick off third-quarter earnings season
This week’s focus is also on the start of third-quarter earnings season, with big banks JPMorgan Chase & Co (NYSE:), Wells Fargo & Company (NYSE:) and Bank of New York Mellon (NYSE:) which are expected to report quarterly results on Friday.
Markets will be looking to see whether corporate profits have withstood the pressure from high interest rates and soaring inflation.
Results are expected to accelerate next week, with other key results from banks and technology companies expected in the coming days.
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