Stock futures experienced a slight increase during quiet trading, as investors anticipate several busy days filled with economic data releases, international financial meetings, and earnings that could provide insights into the Federal Reserve's upcoming interest-rate decisions.
In recent trading sessions, S&P 500 futures edged up by less than 0.1%. On Monday, the benchmark U.S. stock index futures climbed as investors awaited inflation data to determine potential actions by the Federal Reserve while maintaining caution ahead of quarterly earnings season. The primary U.S. equity benchmarks stabilized in April following a selloff last month due to the collapse of two mid-sized lenders.
A robust labor market report on Friday bolstered bets that the Fed will raise rates by 25 basis points in May; money market traders have priced in nearly a 70% chance for such action. Inflation data scheduled for release on Wednesday is expected to show consumer prices growing at an annual rate of 5.2% after February's recorded rise of 6%.
Major American banks Citigroup Inc., JPMorgan Chase & Co (JPMN), and Wells Fargo & Co are set to kick off first-quarter earnings season this week; however, analysts predict first-half profits within S&P 500 companies may drop by around 5.2%, marking a sharp contrast from earlier projections anticipating 1.4% annual growth.
Crypto-related companies' shares soared following AMC Entertainment Holdings Inc (AMC.N) disclosing its stake within theater-focused advertising company National CineMedia Inc (NCMI.O). Shares for Coinbase Global Inc., Riot Platforms Inc., Marathon Digital Holdings Inc., and National CineMedia rose by an impressive combined total of approximately more than ninety percent.
Bitcoin also saw gains recently when it increased over three percent surpassing $30,000—a threshold not crossed since June—adding further intrigue towards forthcoming market trends and potential Federal Reserve actions.