Markets Brace for Key U.S. Inflation Data as Global Trade Tensions Ease
U.S. stock futures dipped amid anticipation of crucial inflation data due to shape monetary policy. April CPI is expected to show a 0.3% rise. A trade truce between the U.S. and China briefly boosted markets, but UnitedHealth's forecast suspension weighed heavily. Traders keenly await speeches from Federal Reserve officials.
Wall Street finds itself on tenterhooks as investors eye key inflation data that could set the course for future monetary policy. The April Consumer Price Index (CPI) report, expected to reveal a 0.3% uptick, is generating significant interest as it could impact rate cut expectations.
This comes on the heels of a temporary easing in U.S.-China trade tensions, which initially sparked a rally in major indexes. However, the suspension of UnitedHealth's annual forecast casts a shadow, contributing to the morning's dip in futures.
As the week unfolds, attention shifts to remarks from Federal Reserve officials, including Chair Jerome Powell. Their insights could further sway market sentiment, especially amid the backdrop of a potentially looming global economic slowdown.
(With inputs from agencies.)
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