US stock futures could remain in the red after a negative week during which the market snapped out of its strong series of gains.
The main indices could remain exposed to the dampening expectations surrounding the pace and start of interest rate cuts this year.
The rebound in US Treasury yields last week is following the changing forecasts and could weigh on the stock market. Last Friday’s labor market data revealed a strong and resilient labor market, and this week’s highly anticipated inflation data will provide further insights into the Federal Reserve’s next move.
As a result, the US stock market could continue to see price corrections ahead of the release of inflation figures.
The technology sector was the worst performer last week, with a decline of over 4%, led by Apple’s stock, which fell almost 6% amid concerns about iPhone sales.
In contrast, the healthcare sector in the US was the strongest, with a rise of 2.01%. Boeing shares were trading at a significant loss in premarket following the grounding of dozens of Boeing 737 Max 9 aircraft for inspections after a part failure in an Alaska Airlines plane.
The event could have significant implications for the performance of the US aviation sector with other companies being affected by the incident.
