Markets Pause Ahead of Key Inflation Data as Investors Eye Fed Rate Cut Prospects – FJElite

Wall Street refrained from making big bets ahead of a key inflation report, and the stock market rally slowed. Treasuries fluctuated. The dollar rose against the majority of major currencies.

With earnings season nearly over, investors are looking to economic data for clues on whether the Federal Reserve will be able to cut interest rates in September. The S&P 500 fell 0.25%. Apple led the decline in technology shares after posting its best week since 2020.

The 10-year Treasury yield remained relatively stable at 4.28%. The dollar index rose 0.3%. Bitcoin briefly reached $122,000 before paring gains. Gold futures fell after Trump announced that gold imports would not be subject to US tariffs.

Data due Tuesday is expected to show that US consumers saw a slight increase in inflation as retailers gradually raised prices on a variety of items subject to higher import duties.

According to two administration officials, the Fed’s two vice chairs, Bowman and Jefferson, as well as Fed President Logan, are being considered for the position of chair of the central bank when it opens next year. Treasury Secretary Bessent will interview additional candidates in the coming weeks, according to officials.