Stocks pointed higher Monday despite anxiety among traders over the Federal Reserve’s next decision on interest rates coming later this week, the Associated Press reports.
Futures for the S&P 500 and Dow Jones Industrial Average climbed 0.2% before the bell, while Nasdaq futures rose by only 0.1%.
Nvidia fell 1.5% before the bell after China accused the company of violating the country’s antimonopoly laws.
Tesla shares were up 8.5% after CEO Elon Musk disclosed the purchase of over 2.5 million shares worth roughly $1 billion.
On Wednesday, the Federal Reserve is widely expected to cut its benchmark interest rate for the first time in 2025, despite the fact that inflation remains above its 2% target.
Fed officials have publicly acknowledged that a slowing labor market is their primary concern, driving optimism for a rate cut this week.
