Stock futures little changed as Wall Street awaits Fed meeting: Live updates

US stock futures rose Monday morning, as investors eyed the Federal Reserve’s next policy decision.

Futures tied to the Dow Jones Industrial Average added 48 points, or 0.13%. S&P 500 and Nasdaq 100 futures also rose by 0.14% and 0.1%, respectively.

The broad market index and the Nasdaq ended the previous trading week in the red, recording losses for the second week in a row. The Dow Jones managed to end the week up 0.1%.

Investors widely expect the Fed to keep interest rates steady. However, traders will be watching closely to get a better idea of ​​the central bank’s stance on inflation from here.

“How the Fed implements the pause is critical to the November and December interest rate outlook, but whether it is presented with a hawkish or hawkish bias is what matters most for financial markets,” said Quincy Crosby, global chief strategist at LPL Financial.

The latest inflation data was largely in line with economists’ expectations. While the PPI rose more than expected, the core PPI, which excludes food and energy, matched estimates. Core CPI also rose slightly higher than expected in August, rising 0.3% month-on-month, versus estimates of 0.2%.

However, Crosby believes higher prices may be in the offing as the job market remains strong. A United Auto Workers strike in Detroit could put upward pressure on prices, according to the strategist.

“Given a UAW strike with the potential for a large pay package, combined with recent successful negotiations by workers that support a broad range of higher wages, the FOMC faces the possibility that this could lead to higher rates,” Crosby said.

Policymakers are looking forward to the release of more economic data on Monday. Housing market index data is scheduled for September. The Federal Reserve Bank of New York will also announce the results of its September business leaders survey.