Dow Jones Industrial Average futures slipped around 0.1%, while S&P 500 futures traded near the flat line. Nasdaq-100 futures were up around 0.5% after a relatively quiet week on Wall Street.
In individual stocks, Vista Energy shares jumped around 5% in premarket trading after it emerged that billionaire Peter Thiel’s hedge fund had acquired a stake in the Argentine oil producer.
Thiel Macro LLC reported owning nearly 1.2 million American Depository Shares of Vista Energy, worth about $76 million, as of the second quarter ended June 30, according to a US Securities and Exchange Commission filing published on Friday.
Investor sentiment has remained supported by a strong earnings season, even as markets navigate ongoing hostilities in West Asia and concerns surrounding the artificial intelligence trade. Softer retail sales data and a relatively mild inflation reading have also lowered expectations for a Federal Reserve rate hike at its upcoming meeting.
The focus this week will be on the Fed’s latest meeting minutes, due Wednesday, along with quarterly results from major retailers including Walmart, Target, Lowe’s and Home Depot. The earnings are expected to offer clues on consumer spending during the key back-to-school shopping season.
Oil prices will also remain in focus, given their implications for inflation and monetary policy. Brent crude futures rose towards $88 a barrel on Monday, while US Treasury yields had moved higher, with the 10-year and 30-year yields both rising 5 basis points at Friday’s close, CNBC reported.Also Read: Shipping slows through Strait of Hormuz after tanker attacks, data shows
