U.S. and European equities were largely muted on Monday as investors geared up to face a busy week of economic data, among which is the Federal Reserve’s preferred inflation measure. Futures listed on the S&P 500 and Nasdaq 100 were largely unchanged, while those on the Dow Jones Industrial Average slipped 0.2%. The Stoxx Europe 600 declined by 0.3%.
“There is a lot of economic data coming in this week, which will be more decisive for whether investors will stay in a risk-on mood,” Tatjana Puhan, chief investment officer at Copernicus Wealth Management observed. Puhan added that if US companies’ earnings remain positive, then stocks could continue their positive momentum.
The Personal Consumer Expenditure (PCE) index—the Federal Reserve’s preferred inflation gauge—is set to be released on Thursday, with headline and core PCE expected to come in at a 0.4% month-over-month rise. This is a rise from the 0.2% increase experienced last month.
