Today’s stock market news: S&P 500 Index, Nasdaq futures decline with inflation, U.S. rating downgrade becomes focus

Stock index futures fell on Monday as investors braced for key U.S. inflation data in a week filled with potential insights into how consumers are holding on in the face of high borrowing costs.

S&P 500 Index (^GSPC) futures fell about 0.2%, after U.S. indexes rebounded to Ending second week of gains.Dow Jones Industrial Average (^DJI Innovations) futures were largely unchanged, while the tech-heavy Nasdaq 100 (^NDX) loss of about 0.3%.

First and foremost is the consumer price index report for October released on Tuesday, which is a key factor in the Federal Reserve’s interest rate decision. Comments from several Fed officials last week opened the door to further interest rate hikes, undermining optimism about easing policy. Tightening policy could help boost stocks.

Concerns about the U.S. government’s fiscal health heightened the cautious tone following Moody’s report. changed his view Its debt fell from “stable” to “negative” another closing period Friday is coming. Legislators lack the will Former Fed official Bill Dudley warned that high interest rates would make the debt situation worse in an effort to address the fiscal crisis.

A slew of consumer-focused earnings from major retailers could bring some cheer this week, with Home Depot (HD), Target(TGT) and Walmart (WMT) is one of the highlights. Monday’s minutes include Fisker’s results (FSR) and Tyson (TSN).Afterwards, attention will be focused on what the financial update reveals about the U.S. consumer Economic data Shows they feel worse about the state of the U.S. economy.

The eyes are likely to turn to Face-to-face meeting with President Joe Biden He held his first meeting in a year with Chinese President Xi Jinping on Wednesday.The two superpowers’ recent fraught relationship considered a risk to an already faltering global economy.

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