Trading was muted today, the Associated Press reports, as optimism set off by a record rally on Wall Street gradually ran out of momentum. U.S. shares were little changed, with Dow futures hovering at 39,471.00 and S&P 500 futures declining less than 0.1% to 5,176.25.
Recent inflation figures were close to expectations, and traders are holding on to hopes that the longer-term trend downward means the Federal Reserve will begin rate cuts in June. The Fed’s main interest rate is at its highest level since 2001.
In energy trading, benchmark U.S. crude added 22 cents to $78.78 per barrel. Brent crude, the international standard, rose 25 cents to $82.17 per barrel.
In currency trading, the U.S. dollar rose slightly to 147.78 Japanese yen from 147.63 yen.
