Stock market today: Live updates

Stock futures flat in overnight trade S&P 500 Index and Nasdaq Composite Index Both hit their highest closing prices since April 2022. Wall Street also looked ahead to Tuesday’s May consumer price index.

Oracle Shares rose 4% in after-hours trading after beating Wall Street expectations for the fiscal fourth quarter. The company reported adjusted earnings per share of $1.67 on revenue of $13.84 billion.

linked to futures S&P 500 Index flat, while Dow Jones Industrial Average Futures fell 10 points.related to futures Nasdaq Composite Index It edged up 0.1 percent.

Stocks had another positive session on Monday as hopes grew that the Federal Reserve would hold off on raising interest rates at its next policy meeting starting Tuesday. The S&P 500 and Nasdaq Composite gained 0.93% and 1.53%, respectively, to close at their highest levels in 13 months.this Dow Jones Industrial Average An increase of 189.55 points, or 0.56%.

Ahead of Wednesday’s interest rate decision, market attention turned to May’s consumer price index report. Economists polled by Dow Jones expect signs of moderation in inflation, with prices expected to rise 0.1% month-on-month, compared with 0.4% in April. Economists expect growth of 4% per year.

The findings are likely to bolster Wall Street’s hopes that sticky inflation will continue to ease and boost expectations of a jump in interest rates that many have already priced in.according to CME Group’s FedWatch tool 78% of traders bet on a pause. That said, another rate hike in July is not out of the question.

However, Ed Moya said higher-than-expected inflation data could derail those plans.

“Given the trend in gasoline prices, the seasonal rise in food prices and the negative base effect, inflation should be lower,” said Oanda senior market analyst. “If the U.S. economy gets a hot report, the Fed may have to decide whether to raise rates again.” debate and possibly signal that they may need to be ready to do more.”