US equity futures experienced a rise as the markets prepared for Monday's opening bell. Traders are closely monitoring an essential inflation report, which is scheduled for release later in the week. The futures for the Dow Jones Industrial Average saw an increase of 0.6%, while the S&P 500 and Nasdaq futures both rose by 0.5%.
The upcoming personal income and outlays report, set to release on Friday, is highly anticipated as it will include the personal consumption expenditure core price index. This index is known as the Federal Reserve's preferred measure of inflation and is critical for understanding the economic landscape.
In the commodities market, oil prices remained relatively stable, with the North Sea Brent crude standing at $74.06 per barrel and US West Texas Intermediate crude at $70.43 per barrel. These figures reflect a period of consolidation amidst the ongoing fluctuations in global energy markets. Looking at economic indicators, the Chicago Fed National Activity index notably dropped to minus 0.03 in January from the previous month’s figure of 0.18.
This decline, while still slightly above the expected minus 0.05, may suggest potential headwinds for economic growth in the near term. Additionally, the Dallas Fed Manufacturing Business index for February is set to be released at 10:30 AM ET, which will provide further insights into the manufacturing sector's performance.
Globally, market performances varied, with Hong Kong’s Hang Seng finishing 0.6% lower and China’s Shanghai Composite down by 0.2%. On the other hand, while Japan’s market was closed for a holiday, markets in the UK and Germany saw slight fluctuations, with the UK's FTSE 100 taking a minor dip of 0.1% and Germany’s DAX index appreciating by 0.9% in the early afternoon trading session.
In the world of equities, WeRide ($WRD) shares surged more than 12% following the announcement that the company received approval to launch its latest robotaxi model for commercial operations in China. This development highlights the continued innovation and growth within the technology and transportation sectors.
Conversely, Hawaiian Electric Industries ($HE) faced challenges as its shares dropped by 4.6%. The decline came after the company reported a lower-than-expected Q4 non-GAAP profit and revenue late Friday, raising concerns about its financial performance moving forward. Overall, the market remains on edge as it anticipates key economic data that could influence trading strategies and investor sentiment in the coming days..