US Futures Gain Ground as Fed Rate Hike Expectations Dim
US stock futures climbed modestly on Monday, building on the previous session's gains after weaker-than-expected jobs data eased concerns about further Federal Reserve rate hikes.
The Nasdaq 100 futures rose 0.3%, while Dow and S&P 500 futures each advanced about 0.1%. The rally followed Friday's strong performance on Wall Street, driven by data showing slower job growth and moderating wage increases in September.
Markets now assign an 80% probability that the Fed will hold rates steady this month, though traders remain watchful of high Treasury yields, with the 10-year yield nearing a 2002 peak.
Investors are eyeing key economic reports due this week, including the ISM services activity index, Fed meeting minutes, and the University of Michigan's consumer sentiment survey. Additionally, earnings releases from companies like Constellation Brands, Levi Strauss, PepsiCo, and Delta Air Lines are on the horizon.