Investing.com Update

U.S. stock index futures rose in evening deals on Sunday, with attention shifting to upcoming inflation data and a series of Federal Reserve speakers for potential signals on Wall Street's recent rally.

Wall Street experienced a surge in the second half of last week after Donald Trump’s victory in the 2024 presidential election, eliminating a significant uncertainty for the markets. An interest rate cut by the Fed also enhanced risk sentiment.

• S&P 500 Futures increased by 0.2% to 6,037.25 points
• Nasdaq 100 Futures rose 0.4% to 21,306.0 points
• Dow Jones Futures climbed 0.1% to 44,186.0 points

However, trading volumes are likely to be limited on Monday due to the Veterans Day holiday.

CPI Data and Fed Speakers This Week

This week’s spotlight is on the upcoming Consumer Price Index (CPI) inflation data for October, which aims to provide insights into whether inflation is easing.

The CPI reading comes just a week following the Fed's 25 basis points interest rate cut, emphasizing that future easing decisions will largely depend on inflation trends. This week's CPI data is anticipated to influence the rate outlook.

While U.S. inflation had dropped earlier this year, it has become stubbornly high in recent months due to continuous economic and labor market strength.

In addition to the CPI, attention will also be on multiple addresses from Fed officials, expected to give further insights into the central bank's interest rate strategies.

Traders are predicting a 65.9% chance of a 25 basis point rate cut in December and a 34.1% likelihood that rates will stay the same, according to CME Fedwatch.

Wall Street's Surge Following Trump’s Victory

Futures rose after Wall Street achieved a series of record highs, jubilant over Trump’s victory. The president-elect has promised to lower corporate taxes and initiate more expansionary policies, which are favorable for corporate earnings.

The Republican party is set to maintain a majority in both congressional chambers, paving the way for Trump to implement significant policy changes.

• S&P 500 up by 0.4% to 5,995.54 points last Friday
• Dow Jones Industrial Average increased by 0.6% to 43,988.99 points
• NASDAQ Composite rose by 0.1% to 19,286.78 points

All three indexes reached record highs last week.