Investing.com -- Wall Street looks set to start the week slightly higher, with the focus on the latest inflation data as investors look for confirmation that the Federal Reserve will start cutting interest rates in September. The quarterly earnings season is coming to an end, but the retail sector will be the main focus in the coming days.
Fed fund futures imply a 49% chance of a half-point rate cut in September, after climbing as high as 100% at one point last week.U.S. stock futures edged higher Monday, with investors cautious at the start of the week that includes the release of key inflation data as well as important earnings from the retail sector.
Investors will be on the lookout for what retailers have to say about the resilience of consumer spending, a major driver of growth in the economy, particularly given some recent signs of weakness in economic data.
Fears that a bigger war in the Middle East will disrupt oil supplies from the crude-rich region have seen traders attach a greater risk premium to oil prices.