by SignalFactory · December 13, 2021 | 11:53:28 UTC
Stock futures rose early Monday after the S&P 500 notched its best week since February at a fresh record close, rebounding from a big sell-off triggered by fears of the omicron coronavirus variant.
The early Monday action followed a strong week on Wall Street as investors shrugged off a hot inflation reading. The blue-chip Dow gained 4% last week, breaking a four-week losing streak with its best weekly performance since March. The S&P 500 jumped 3.8% and 3.6%, last week, posting its best weekly performance since early February.
Investors digested a jump in headline inflation data, which came in at 6.8% in November year-over-year for the biggest surge since 1982. The print was marginally higher than the 6.7% Dow Jones estimate.
The key inflation reading came ahead of the Federal Reserve’s two-day policy meeting this week where the policymakers are expected to discuss speeding up the end of its bond-buying program.
Fed Chair Jerome Powell, as well as a parade of Fed speakers, all recently suggested the central bank, could end the $120 billion monthly bond purchase program sooner than the current timeline of June 2022.
“We think strong economic growth, labor market recovery, and elevated inflation has moved the Fed toward an accelerated focus on shifting policy and particularly in getting quantitative easing over with,” Rieder said.
S&P 500 Long (Buy) Enter At: 4721.14 T.P_1: 4794.33 T.P_2: 4900.00 S.L: 4632.15
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