U.S. stock futures traded higher early Monday as traders awaited the release of two crucial inflation readings this week. Investors are focusing on major inflation reports for signals on the U.S. economy’s health, following Friday’s disappointing jobs data. The August Producer Price Index (PPI) is scheduled for release on Wednesday, followed by the Consumer Price Index (CPI) on Thursday.
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Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.35%, 0.23%, and 0.21%, respectively, at 4:50 a.m. EST on September 8.
During Friday’s regular trading session, the three major indexes closed in negative territory after August’s nonfarm payrolls showed an increase of only 22,000 jobs, falling significantly short of the projected 75,000.
Last week, the Nasdaq 100 and S&P 500 ended the week in positive territory, up 0.08% and 0.30%, respectively. However, the Dow ended slightly lower, down 0.32%, amid economic concerns.
The earnings season is largely over, but several notable releases are still scheduled, with Synopsys (SNPS), Chewy (CHWY), and Adobe (ADBE) set to report this week.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.08%. WTI crude oil futures were trending higher, hovering near $62.78 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $3,648 per ounce on Monday.
Elsewhere, European stocks opened higher on September 8 as traders focused on France’s upcoming confidence vote. French Prime Minister Francois Bayrou is widely expected to lose the vote due to opposition to his proposed $51.5 billion in budget cuts.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded mostly higher on Monday as traders reacted to the resignation of Japanese Prime Minister Shigeru Ishiba over the weekend and China’s latest export data.
Hong Kong’s Hang Seng index rose 0.85%. In China, the Shanghai Composite gained 0.38%, and the Shenzhen Component advanced 1.11%. Meanwhile, Japan’s Nikkei added 1.45%, and the Topix climbed 1.06%.
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