U.S. stock futures edge lower Monday despite the S&P 500 hitting an all-time high last week amid shifting Fed rate expectations.
U.S. stock futures retreated early Monday, with Dow Jones Industrial Average futures down 108 points or 0.2%. S&P 500 futures slipped 0.17%, while Nasdaq 100 futures fell 0.28%, though some E-Mini contracts showed modest gains.
The S&P 500 closed at a record high last week, capping a third consecutive week of gains. A robust Q2 earnings season and softer-than-expected retail sales and inflation data have reduced expectations for a Federal Reserve rate hike in September.
Trading volume is expected to remain light this week, with key events including the Fed’s July meeting minutes on Wednesday and retail earnings from Home Depot, Lowe’s, Walmart, and Target.