Traders on Wall Street are gearing up for the start of the second quarter as stock futures rose slightly on Sunday evening. The New York Stock Exchange (NYSE) is abuzz with anticipation as futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq-100 all saw gains.
The recent release of the personal consumption expenditures price index showed that inflation rose 2.8% in February, in line with expectations. This news has led some to speculate on the Federal Reserve’s next move regarding interest rates.
Despite the uncertainty surrounding interest rates, the major averages are coming off a strong first quarter. The S&P 500 saw its best quarterly stretch since 2019, while the Dow Jones Industrial Average and Nasdaq Composite also posted impressive gains.
Artificial intelligence stocks and the success of companies like Nvidia have been driving the market higher, with expectations of a rate-cutting cycle from the Federal Reserve later this year. Market analysts believe that this rally could continue, especially given historical trends following strong first quarters.
As Wall Street prepares for a busy week of economic data, including construction spending and ISM manufacturing data, all eyes are on the upcoming March jobs report on Friday. The market is poised for more excitement and potential growth in the days ahead.
