Stock Market Update: Stocks Set for a Muted Open Today

US stocks are expected to have a calm start on Monday, as investors are anticipating important information related to inflation and the Federal Reserve’s policy statement on interest rates later in the week.

On Sunday at 6:25 p.m. Eastern time, the futures for the Dow Jones Industrial Average remained steady, showing a 9-point increase, while the futures for the S&P 500 saw a slight rise of 0.1%. The Nasdaq Composite also saw a 0.1% increase in its futures.

The West Texas Intermediate (WTI) crude oil futures and the international standard, Brent crude, both experienced a decrease in value by 0.04% and 0.2% respectively. In terms of notable company earnings and economic events, Oracle, Lennar, Adobe, Jabil, and Kroger will be reporting this week.

The Bureau of Labor Statistics will report the consumer price index for May on Tuesday, while Wednesday will see the release of the Federal Reserve’s monetary-policy committee’s decision regarding interest rates and the producer price index for May.

On Thursday, retail sales data for May will be released by the Census Bureau, the Labor Department will report the number of worker filings for unemployment benefits in the week ended June 10, and the European Central Bank is predicted to raise its key short-term interest rate by 0.25% to 3.5%. Finally, on Friday, the University of Michigan will release the Consumer Sentiment Index for June.

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