Stock Market Live Updates: Stocks Edge Up As Wall Street Aims to Close Q2 On a High Note

US stock futures exhibited mixed movements early Monday as Wall Street prepares to conclude a robust second quarter. Futures for the S&P 500 (^GSPC) inched up around 0.1%, while Nasdaq Composite (^IXIC) futures hovered just below the flatline. Dow Jones Industrial Average (^DJI) futures climbed 0.3%.

Q2 Performance Highlights

This quarter has been notable for significant stock market gains. The S&P 500 has risen approximately 4.5%, and the Nasdaq has surged around 8%, driven largely by a rally in artificial intelligence stocks. Despite this overall positive trend, the rally showed signs of slowing down at the end of last week. Nvidia (NVDA), a standout performer this year, saw its stock dip after reaching new all-time highs. This decline appeared likely to continue, with Nvidia's stock down about 2% in premarket trading on Monday.

Key Events to Watch This Week

The focus this week extends beyond stock performance to include key macroeconomic indicators and political developments. On the political front, President Joe Biden and likely Republican candidate Donald Trump are scheduled for their first debate on Thursday evening. This event could influence market sentiment and expectations regarding economic policy.

Upcoming Economic Data

Inflation data will be a critical focus, with the Personal Consumption Expenditures (PCE) index set for release on Friday morning. This index includes the "core" PCE measure, which is closely watched by the Federal Reserve. Economists forecast a 0.1% increase in core PCE for the past month, the smallest rise since last November. Such a result could ease some of the Federal Reserve's concerns about the need for rate cuts this year. According to the CME FedWatch tool, traders are anticipating potential rate cuts beginning in September.

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