Inventory market in the present day: Dwell updates

U.S. inventory futures have been flat Monday night time after the S&P 500 and the Nasdaq Composite notched their longest successful streaks of 2024. 

Dow Jones Industrial Common futures traded close to the flatline. Futures tied to the S&P 500 inched up 0.02%, and Nasdaq 100 futures added 0.08%.

The motion in prolonged buying and selling follows one other successful day for the key averages. The S&P 500 superior almost 1%, whereas the Nasdaq added 1.4%. Each indexes posted their eighth straight optimistic session, a primary for the S&P 500 since November 2023. It was additionally the longest successful stretch for the Nasdaq since December 2023.

The main averages have bounced again amid a dramatic fall in market volatility from the beginning of the month. The CBOE Volatility Index is now at 14.7 after topping 65 on Aug. 5. Robust retail gross sales information and a mushy inflation report issued final week helped soothe buyers’ fears on the economic system. 

This week, buyers are readying themselves for the Federal Reserve’s annual Jackson Gap Financial Symposium, the place Chair Jerome Powell is scheduled to provide remarks Friday morning. Wall Road is in search of insights on how a lot the central financial institution will seemingly decrease charges by at its September assembly.

The Fed needs to sign that “they’re on prime of the curve — not behind it. However on the identical time, they do not need to be too aggressive in eradicating the stress earlier than the hearth is out,” mentioned Sam Stovall, chief funding strategist at CFRA Analysis.

“The true query is not only the timing, however the magnitude” of charge cuts, Stovall added. Fed futures funds pricing signifies a 77.5% chance of central financial institution policymakers decreasing charges by 25 foundation factors in September, per the CME Group FedWatch Device.

The Fed may even launch the minutes from its most up-to-date assembly on Wednesday.