Stock futures are little changed after S&P 500 notches another record close: Live updates
What did the S&P 500 futures change by?
S&P 500 futures changed by climbing 0.05% in the latest update. This comes after the S&P 500 notched a fresh record close, with investors focusing on Federal Reserve Chair Jerome Powell's cautious remarks about keeping rates elevated and the upcoming consumer price index reading.
How did Jerome Powell describe the impact of high rates?
Jerome Powell cautioned that keeping rates elevated for too long could stunt economic growth, stating, "Reducing policy restraint too late or too little could unduly weaken economic activity and employment." He emphasized the importance of more good data to strengthen confidence that inflation is moving sustainably toward the 2% target.
What economic data is scheduled for release this week?
This week's economic data includes a final wholesale inventories reading for May, the June consumer price index reading, and the June producer price index. The upcoming CPI print is considered a key test for the market and the outlook for rate cuts.