Posted 3/11/2024, 7:54:00 AM
Stocks Set for Muted Open Ahead of Crucial Inflation Data
- U.S. stock markets set to open mildly lower on Monday ahead of key inflation data on Tuesday
- Focus will be on February consumer price index report and what it means for prospect of Fed rate cuts
- Consensus estimate is for 3.1% year-over-year inflation, matching January figure that triggered a stock market fall
- Yield on 10-year Treasury note ticked down to 4.073% early Monday after increasing the previous week
- June Fed rate cut bets currently sit just above 70%; Fed typically delivers what's priced in when probability over 80%