US stock futures hit pause on Monday as investors ***** sed signs of progress in US-Iran peace talks and prepared for a pivotal inflation report later this week.
Contracts on the S&P 500 (ES=F) and the Dow Jones Industrial Average (YM=F) hovered near the flat line. But contracts on the Nasdaq 100 (NQ=F) edged up 0.2% as Wall Street set up for a muted open after Friday's holiday closure.
The US and Iran made "encouraging progress" in peace talks in Switzerland, mediators said on Monday, and have agreed on a roadmap to sealing a final deal within 60 days. That eased some nerves prompted by President Trump's threat of strikes on Iran if Tehran doesn't rein in Hezbollah's actions against Israel.
Oil prices fell in ***** py action as Trump's warning vied with hopes that the deal progress meant oil flows through the blockaded Strait of Hormuz could return to normality. Brent crude futures (BZ=F) slid 1% to below $80 a barrel, while West Texas Intermediate (CL=F) crude slipped slightly to trade near $76 a barrel.
Looking ahead, investors are gearing up for the May reading of the Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge. Economists expect core PCE, which excludes food and energy costs, to show a modest acceleration from April levels when the report is released on Thursday.
Contracts on the S&P 500 (ES=F) and the Dow Jones Industrial Average (YM=F) hovered near the flat line. But contracts on the Nasdaq 100 (NQ=F) edged up 0.2% as Wall Street set up for a muted open after Friday's holiday closure.
The US and Iran made "encouraging progress" in peace talks in Switzerland, mediators said on Monday, and have agreed on a roadmap to sealing a final deal within 60 days. That eased some nerves prompted by President Trump's threat of strikes on Iran if Tehran doesn't rein in Hezbollah's actions against Israel.
Oil prices fell in ***** py action as Trump's warning vied with hopes that the deal progress meant oil flows through the blockaded Strait of Hormuz could return to normality. Brent crude futures (BZ=F) slid 1% to below $80 a barrel, while West Texas Intermediate (CL=F) crude slipped slightly to trade near $76 a barrel.
Looking ahead, investors are gearing up for the May reading of the Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge. Economists expect core PCE, which excludes food and energy costs, to show a modest acceleration from April levels when the report is released on Thursday.
4 months ago
