U.S. stock futures pointed down on Sunday night ahead of a big week that will be highlighted by more U.S.-China trade talks and fresh inflation data.
A strong jobs report on Friday added more fuel to a rally that has lifted the S&P 500 to within 2.4% of its all-time high reached in February, before President Donald Trump’s trade war sank markets.
The yield on the 10-year Treasury slipped less than 1 basis point to 4.506%. The dollar fell 0.11% against the euro and 0.15% against the yen.
Gold dipped 0.28% to $3,337.20 per ounce. U.S. oil prices climbed 0.08% to $64.63 per barrel, and Brent crude gained 0.05% to $66.50.
On Monday, U.S. and Chinese officials will meet in London to begin another round of trade talks after agreeing last month in Geneva to pause their prohibitively high tariffs.
“I’m very comfortable that this deal is about to be closed,” he told CBS News.
Meanwhile, new inflation data are due as the Federal Reserve remains in wait-and-see mode to assess how much Trump’s tariffs are moving the needle on prices.
The better-than-expected jobs report on Friday eased fears of a recession, taking pressure off the Fed to cut rates to support the economy. That means that any rate cuts may have to come as a result of cooler inflation.
The Labor Department will release its monthly consumer price index on Wednesday and its producer price index on Thursday.
Also on Wednesday, the Treasury Department will issue its monthly update on the budget, offering clues on how much debt the federal government is issuing amid concern about bond supply and demand.
