"U.S. stocks are poised to begin the week in cautious territory as futures indicated uncertainty ahead of another big week. That comes as Friday's dismal jobs report ratcheted up recession fears while also locking in odds for a rate cut later this month from the Federal Reserve. But if inflation surprises in the coming week, it could cast some doubt on the cut."
"The yield on the 10-year Treasury ticked 1 basis point lower to 4.076%. The U.S. dollar was up 0.11% against the euro and up 0.70% against the yen after Japan's prime minister announced he will step down after less than a year in office. More political turmoil in the world fourth-largest economy could rattle the bond market as investors gauge whether the next leader will lean toward fiscal discipline or more profligacy."
Stock futures were little changed as investors awaited fresh inflation data and political turmoil overseas that could ripple through the bond market. Friday's dismal U.S. jobs report intensified recession fears and increased odds of a Federal Reserve rate cut later this month. Incoming inflation readings could challenge expectations for a cut. The 10-year Treasury yield ticked down to 4.076% while the dollar gained versus the euro and yen after Japan's prime minister announced his resignation. France faces a confidence vote after rising yields. Oil rose modestly despite an OPEC+ production hike, and gold hovered near record highs. Moody's Analytics chief economist Mark Zandi noted that most U.S. industries have been shedding jobs for several months.
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