U.S. stock futures ticked down Monday morning as investors look toward the Federal Reserve’s next policy decision.
Futures for the Dow Jones Industrials sank 13 points to 34,914.
Futures for the S&P 500 lost 6.5 points, or 0.1%, at 4,491.50.
Futures for the NASDAQ hesitated 44.25 points, or 0.3%, to 15,348.
Investors are widely anticipating that the Fed will hold interest rates steady at the policy meeting this week. Traders will try get a better sense of the central bank’s stance on inflation from here.
Recent inflation data came largely in-line with economists’ expectations. While the producer price index gained more than expected, the core PPI, which excludes food and energy, matched the estimate. The core consumer price index also increased slightly higher than expected in August, rising 0.3% month-over-month, against the estimate of 0.2%.
But experts opine higher prices could be ahead as the labor market remains strong. The United Auto Workers strike could place further upward pressure on prices, according to the strategist.
Policymakers will be looking toward more economic data releases Monday. The National Association of Home Builders will be releasing September’s Housing Market Index data. The New York Fed will also be announcing September’s Business Leaders Survey results.
In Hong Kong, the Hang Seng retreated 1.4% Monday, while markets in Japan were closed for a public holiday.
Oil prices dipped 50 cents to $91.27 U.S. a barrel.
Gold prices took on $1.80 to $1,948.