Stock market today: Live updates

[Pelican Press 0]

Stock market today: Live updates

Traders work on the floor at the New York Stock Exchange on Feb. 1, 2024.

Brendan McDermid | Reuters

Stock futures were little changed on Monday, with rising Treasury yields limiting meaningful gains for equities and investors gearing up for forthcoming inflation data.

Futures tied to the S&P 500 hovered near the flatline. Nasdaq 100 futures advanced 0.1%, while Dow Jones Industrial Average futures gained 16 points, or 0.04%.

Stocks ended Monday’s trading largely little changed, with the S&P 500 closing with a marginal decline of 0.04%. The 10-year Treasury yield topped 4.4%, as investors awaited Wednesday’s consumer price index report for more insight into how the Federal Reserve’s policy has been affecting inflation. Economists surveyed by Dow Jones expect inflation to have increased 0.3% in March.

“If [CPI] is a surprise and that continues to reprice inflation expectations higher, I think that’s where it becomes dangerous for stocks,” iCapital chief investment strategist Anastasia Amoroso told CNBC’s “Closing Bell” on Monday.

Amoroso added that the rise in bond yields has been triggered by an improving growth

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, underpinned by a stronger-than-expected jobs report from Friday. However, she cautioned that a continued rise in the 10-year yield could signal cause for concern for the broader market.

“If the moves are somewhat contained here I think we’re fine, despite the backup, but obviously if you have anything closer to a breakout to 4.8%, I think we’d have to worry,” she said.

In the way of economic releases, the National Federation of Independent Business will issue its small business survey results on Tuesday. In addition to Wednesday’s release of the CPI, the Federal Reserve’s minutes from its March meeting are also slated for that day.

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