The Dow Jones is seeking to recover from its worst week in more than a year with focus on the Consumer Price Index

Dow Jones futures rose 0.08% to 38,935 points, the S&P 500 rose 0.04% to 5,205 points, and the Nasdaq 100 rose 0.11% to 18,126 points.

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Last week, the Dow Jones fell 2.3%, recording its worst weekly result since March 2023.. The S&P 500 fell nearly 1%, its biggest weekly loss since early January. The Nasdaq index, dominated by technology stocks, fell 0.8%, suffering its fourth negative week in five.

However, the market ended last week on a positive note, after A better-than-expected employment report will be released on Friday. The surprise rise in wages has given investors hope that a strong economy can continue to support corporate profit growth, even if it means higher interest rates for longer.

At the end of Friday’s trading, the Dow Jones Index rose by 0.80% to 38,904.04 points, the Standard & Poor’s 500 Index rose by 1.11% to 5,204.34 points, and the Nasdaq 100 Index rose by 1.28% to 18,108.46 points.

“Employment and wages are growing strongly and total payrolls are outpacing inflation, which will keep Americans spending in 2024 and move the economy forward,” said Bill Adams, chief economist at Comerica Bank.

Inflation slopes

To see if the Fed's fight against inflation is successful, investors are eagerly awaiting March CPI numbers, which will be released later this week.

Economists surveyed by Dow Jones expect the Consumer Price Index, which will be published on Wednesday at 2:30 p.m. Spanish time, It rose 0.3% last month and 3.5% on an annual basis.

Economists from For its part, Bank of America expects core inflation to moderate to 0.2% in March, after rising by 0.4% in February and January.. He expects a decline in car prices that should translate into a decline in basic commodities. However, the bank expects a higher than usual rise in energy prices.

“The moderation in the core CPI should reflect a decline in commodity prices and a more modest increase in prices for basic services,” the bank’s economists said in a note. “A report in line with our expectations should give the Fed confidence and keep the June cut strong.”

In the business section, Tesla shares rose 3.3% at the opening, after its CEO, Elon Musk, announced that… His electric car company will introduce a robotaxi later this year.

Musk said in a post published on Friday evening on the X website (formerly Twitter) that the presentation will take place on August 8. The businessman has talked about the project for years. Tesla has yet to introduce a robotaxi, a self-driving vehicle, or technology that can turn its cars into “Level 3” automated vehicles.

Spirit Airlines announces it will delay deliveries of new Airbus aircraft and lay off about 260 pilots to try to increase its cash.

“This amendment to our agreement with Airbus is an important part of Spirit’s overall plan to enhance profitability and strengthen our balance sheet,” Spirit CEO Ted Christie said in a statement. The company's shares fell by about a percentage point in pre-market trading.

In addition, the season for publishing quarterly results officially begins on Friday, with the numbers of three of the largest banks in the country: JP Morgan, Wells Fargo, and Citigroup, and with the numbers of the largest asset manager in the world, BlackRock.

“If the season confirms that companies remain optimistic about the future of their businesses, as they expect economies to improve in the remainder of the year, stock markets may continue to rise. However, a ‘worse’ than expected results season could open the door to a correction in “These markets, which, after five months of consecutive rises, are somewhat overbought.” Juan J. Fedez-Fijares, of Link Securities.

In fixed income, the benchmark 10-year US bond continues to rise and offers a secondary market yield of 4.441%.

In the raw materials market, Oil prices Stocks fell in the morning, favoring declines after last week's gains as tensions eased in the Middle East after Israel withdrew more troops from southern Gaza and pledged new talks on a possible ceasefire in Gaza, a conflict that has been going on for six months now.

Crude oil futures contracts Brent, a reference in Europe, fell by 0.90% to $90.35 per barrel. US West Texas Intermediate crude is trading at $86.15 per barrel, down 0.87%.

The euro declines 0.05% in its exchange rate against the dollar, until the exchange rate is set at $1.0829 for each community currency.

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