By Oliver Gray
Investing.com – U.S. stock futures were trading slightly higher during Sunday’s evening deals after major benchmark indices closed lower for the week amid souring risk sentiment as market participants bet that the Federal Reserve will tighten monetary policy aggressively to combat surging inflation.
By 6:30pm ET (10:30pm GMT), Dow Jones Futures were trading 0.1% higher while S&P 500 Futures and Nasdaq 100 Futures were little changed.
Ahead in the week, investors will be monitoring fresh inflation rate figures for May alongside trade balance, exports, imports and the preliminary Michigan consumer sentiment. The annual inflation rate is expected to come in at 8.3% in May, holding slightly below a 41-year high of 8.5% hit in March.
Last week, the blue-chip Dow Jones Industrial Average fell 0.9% for its ninth negative week in 10, while the S&P 500 and the NASDAQ Composite lost 1.2% and 1%, respectively, last week for their eighth losing week in nine.
On the data front, the U.S. economy added 390K jobs in May, beating expectations of 325K despite fears of an economic slowdown and surging inflation pressures, while some traders believe the strong hiring data could be clearing the way for the Fed to remain aggressive.
On the bond markets, United States 10-Year rates were at 2.941%.