Stock futures rise as Wall Street looks ahead to key inflation data

The floor of the New York Stock Exchange is occupied by traders.

Brendan Mcdermid is a reporter.

Wall Street is looking ahead to key inflation data to be released this week.

S&P 500 futures gained 77 points, or 0.24%). The S&P 500 and Nifty 100 futures were up.

The moves came after a winning week for the U.S. stock market. The S&P 500 gained 3% on the week. The stock market was higher.

The Federal Reserve is expected to deliver its third consecutive 0.75 percentage point rate hike in an effort to combat high inflation.

Wall Street investors have been looking for signs that the size of future rate hikes might be smaller as inflation cools off.

The August consumer price index report is due to be released on Tuesday. Ahead of its September meeting, the Fed will get one last piece of data on inflation. Industrial production and retail sales reports will be released.

If the core rate goes up more than anticipated, this will be a negative for bonds and stocks. The report will be a catalyst for a market rally if it is less than expected.

The price of oil was lower on Sunday. The rising interest rates and potential curbed demand due to Covid lock-ups in China have weighed down prices.

The price of West Texas Intermediate fell. The price of oil dipped to 92.68 barrels.

Putin threatened to stop oil and gas exports to Europe if price caps were imposed. There was a small cut to the oil output plans of the Organization of the Petroleum Exporting Countries.

The price of oil fell last week.

Carmen Reicke.

As Wall Street looked to continue last week's rally, stock futures rose Sunday night.

S&P 500 futures were up 9.1 points, or 0.21%. The S&P 500 and the Nasdaq 100 are expected to rise.

Carmen Reicke.