Market jitters gripped Wall Street on Monday as investors awaited the Federal Reserve’s interest rate decision and a wave of inflation data.
Holding Pattern: Stock markets barely budged before the opening bell, with S&P 500 futures down a fraction and Dow futures edging slightly lower.
Fed in Focus: The central bank’s two-day meeting concludes Wednesday, and most expect rates to remain unchanged. Inflation remains high despite recent interest rate hikes.
Mixed Signals: A robust job market bolsters the economy, but it complicates the Fed’s decision on future rate cuts.
Cooling Signs: Recent data hints at a potential economic slowdown, with manufacturing contraction and weaker productivity.
Rate Cuts Off the Table: After a strong jobs report, investors are less optimistic about a July rate cut.
Inflation Watch: Consumer and producer price data arrives later this week.
Apple in the Spotlight: The tech giant’s developer conference is a chance to showcase its foray into Artificial Intelligence (AI).
Siri’s Upgrade: Apple is expected to demonstrate improvements to its virtual assistant, Siri, using AI technology.
ChatGPT Integration? Rumors suggest a partnership with OpenAI to bring elements of ChatGPT to iPhones, though this remains unconfirmed.
AI Infusion: The keynote is likely to center around integrating AI into Apple products, including iPhones.
Southwest Soars: Airline shares jumped after news of a $2 billion investment by activist investor Elliott, aiming for changes at the company.
