Stock Market Today: Dow Futures Edge Down; Bond Yields Rise

Will the March Inflation Data Boost or Break the Stock Rally?

The upcoming release of March inflation data has investors questioning whether it will support or hinder the recent stock rally. Following positive wage-growth data in Friday’s jobs report, traders are eager to see if inflationary pressures are contained. Economists predict a 3.5% rise in consumer prices from a year ago. This data will provide clarity on when and how frequently the Federal Reserve will cut rates. Previously anticipated rate cuts for this year are now being reconsidered, and some investors are even contemplating the possibility of no rate cuts at all. The market awaits the consumer-price index report on Wednesday for further insights.

In recent trading, stock futures tied to the S&P 500 and Dow industrials remained relatively steady. The yield on the 10-year Treasury note increased, reaching around 4.45%, and Bitcoin surged above $71,000. Oil prices slightly declined, with Brent crude trading at approximately $9.50 a barrel, while gold prices continued their upward trend, approaching $2,350 per troy ounce.

Looking ahead, this week will see the release of minutes from the Federal Reserve’s March meeting, rate decisions from the European Central Bank and the Bank of Canada, and the beginning of earnings season with JPMorgan Chase, Citigroup, and Wells Fargo.