US Stock Futures Steady Ahead of Key Price Data – Europe Market Wrap

US market futures moved higher as investors waited for critical data later this week that might provide insight on the Federal Reserve’s policy stance.

Contracts for the S&P 500 increased nearly 0.1% after the index notched its third consecutive week of gains. Contracts on the Nasdaq 100 rose 0.2%. Google parent Alphabet fell 2% in premarket trade after it was revealed that Apple is nearing a deal to put OpenAI’s technology on the iPhone. Treasury rates fell, and the dollar remained constant.

All eyes will be on US producer prices on Tuesday, ahead of April’s inflation report the following day. Data released last week showed a weakening economy and persistent inflation, casting doubt on the Federal Reserve’s policy outlook.

The Stoxx Europe 600 index was barely changed after earning its greatest weekly return since January on expectations that the European Central Bank may loosen policy as early as next month.