U.S. stock futures hover near flatline amid key economic data

U.S. stock futures were largely steady on Monday as traders re-entered the market after the Easter weekend and faced a slew of important economic reports that might influence the direction of Federal Reserve monetary policy going forward.

At 11:00 GMT, the Nasdaq 100 futures were down 16 points or 0.13%, the S&P 500 futures were essentially steady, and the Dow futures contract was up 27 points or 0.08%.

The upcoming publication of March inflation statistics from the U.S. on Wednesday will likely boost mood. Economists anticipate that consumer prices will have increased by 5.2% on an annualised basis and 0.3% month-over-month in the largest economy in the world. The core number, which excludes variable expenses for food and energy, is anticipated to have increased by 5.6% annually and by 0.4% compared to febraury.

If the Fed decides to delay a string of aggressive interest rate rises intended to contain explosive price inflation, the data are likely to play a role. The minutes from the March policy meeting of the U.S. central bank will also be available for traders to peruse.

The closely-watched March labour market data, which was issued last week, revealed that the hiring rate in the United States remained robust and that unemployment crept down. When the Labor Department’s report was released on Friday, the New York Stock Exchange was closed. After the release, rate-sensitive 2-year Treasury rates increased, although they have subsequently decreased.