Investing.com– U.S. stock index futures moved little on Sunday evening as investors awaited key inflation data this week for more cues on interest rates, while focus was also on heightened geopolitical tensions in Syria.
Futures steadied after Wall Street indexes hit record highs on Friday, where technology stocks continued to push higher as stronger-than-expected nonfarm payrolls data did little to deter bets on a December rate cut.
S&P 500 Futures steadied at 6,098.25 points, while Nasdaq 100 Futures were flat at 21,651.75 points by 18:21 ET (23:21 GMT). Dow Jones Futures were flat at 44,700 points.
Investors were waiting to see what a major regime change in Syria will entail for geopolitics in the Middle East, after rebel forces ousted President Bashar al-Assad and took control of Damascus, ending 13 years of civil war.
Media reports said al-Assad had landed in Moscow, while Israeli forces had entered Syria.
CPI data awaited for more rate cues
Focus this week is squarely on consumer price index inflation data, due on Wednesday, for more cues on the U.S. economy and interest rates.
The reading is expected to show a 2.7% year-on-year increase in the headline figure through November, according to Reuters estimates.
Core CPI inflation is also expected to have remained sticky in November, giving the Federal Reserve less impetus to cut interest rates aggressively.
While the central bank is widely expected to cut interest rates by 25 basis points next week, it is also expected to slow its pace of rate cuts in 2025, amid sticky inflation and a strong labor market.
Data on Friday showed stronger-than-expected growth in nonfarm payrolls in November. But the participation rate shrank, while growth in manufacturing payrolls underwhelmed.
Wall St at record highs on tech gains
Wall Street indexes mostly brushed off the strong payrolls data on Friday, with gains in technology stocks- amid persistent optimism over artificial intelligence- offset declines in other economically sensitive sectors.
Markets were also seeking more cues on what President-elect Donald Trump’s policies will entail for the U.S. in the coming years.
The S&P 500 rose 0.3% to 6,090.27 points on Friday, while the NASDAQ Composite rose 0.8% to 19,859.77 points, with both indexes eking out record highs. The Dow Jones Industrial Average lagged, falling 0.3% to 44,642.52 points.