U.S. stock-index futures were little changed, with the S&P 500 Index at a record high, as investors awaited the last batch of corporate results for the quarter and began preparing for June’s Federal Reserve meeting.
Contracts on the S&P 500 Index expiring in June slipped less than 0.2 percent to 2,410.75 at 6:14 a.m. in New York, while those on the Dow Jones Industrial Average also fell less than 0.1 percent to 21,048. The S&P 500 inched higher on Friday after data showed the economy grew more than expected in the first quarter.
Traders are betting an increase in interest rates at the Fed meeting is a virtual certainty, fed fund futures show. Monetary officials have signaled that higher borrowing costs would need to coincide with a stronger labor and economic picture.
Data due Tuesday will show faster growth in personal income and personal spending in April than in the previous month, according to a Bloomberg survey of analysts.
Michael Kors Holdings Ltd. and Hewlett Packard Enterprise Co. report quarterly earnings tomorrow. As the earnings season draws to a close, about 78 percent of S&P 500 members have beaten profit forecasts and about 64 percent have exceeded sales expectations, according to data compiled by Bloomberg.
Fed Bank of St. Louis President James Bullard said on Tuesday the U.S. administration will need to fulfill the expectations that have driven the stock market higher.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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