Futures tracking the main U.S. stock indexes rose on Monday after Wall Street's worst weekly performance of 2023 on fears that the Federal Reserve would keep raising rates this year.
the Personal Consumption Expenditures price index, the metric by which the Fed measures its 2% inflation target, rose 5.4% last month.
Fed fund futures show traders have priced in at least three 25 bps hikes this year and see rates peaking at 5.41% by September. FEDWATCH At 7:20 a.m. ET, Dow e-minis were up 153 points, or 0.47%, S&P 500 e-minis were up 21 points, or 0.53%, and Nasdaq 100 e-minis were up 76.75 points, or 0.64%. After last week's hawkish comments from the Fed policymakers, investors will turn to Fed Governor Philip Jefferson's speech later in the day. Durable goods data for January will be released at 8:30 a.m. ET.
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