Wall Street futures indicated a steady to slightly lower start on Monday as traders evaluated major equity indices close to record highs while contending with rising tensions in the Middle East. The upcoming November consumer price index (CPI), set to be released on Wednesday in Washington, could signal shifts in Federal Reserve policy ahead of the meeting scheduled to conclude on December 18.
In premarket trading, the S&P 500 dipped 0.1%, the Nasdaq also fell 0.1%, while the Dow Jones remained steady. This week, major companies such as Broadcom, Costco, Adobe, Oracle, Lennar, and Toll Brothers are expected to report earnings, which may offer valuable insights into various sectors of the US economy.
Overnight, Asian markets displayed mixed results, with Hong Kong experiencing a rally driven by optimism regarding Beijing's macroeconomic stimulus, whereas the Seoul market retreated amid local political unrest. Meanwhile, European markets traded sideways throughout the midday session. The economic calendar remains sparse, with the wholesale inventories report for October scheduled for release at 10 AM ET.
Additionally, in the premarket landscape, Bitcoin was valued at $98,474, West Texas Intermediate crude oil rose to $68.03, and 10-year US Treasuries yielded 4.16%. Spot gold prices were reported at $2,655 per ounce..