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U.S. stock futures fell on Monday, on track to extend last week’s losses as investors geared up for fresh inflation data.
Futures for the Dow Jones Industrials slid 78 points, or 0.2%, to 39,115.
Futures for the S&P 500 dipped 10 points, or 0.2%, to 5,182.50.
Futures for the NASDAQ skidded 44 points, or 0.2%, to 18,253.25.
Nvidia lost nearly 1% in Monday’s pre-market trading. While the artificial intelligence stock finished last week with gains, Friday’s drop of more than 5% marked its worst daily move since late May.
That action follows a losing week for the major averages. The 30-stock Dow slid 0.9% last week, notching its worst performance since October. The S&P 500 dipped 0.3%, while the NASDAQ Composite dropped 1.2%.
Investors are preparing for February’s consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.
These releases come after Friday’s February jobs report, which gave investors mixed signals as to when exactly the Fed will begin cutting interest rates. While the U.S. economy added more jobs than economists anticipated, a higher unemployment rate and lighter-than-expected wage growth were encouraging signals the central bank could start easing up on monetary policy.
In Japan, the Nikkei 225 collapsed 2.2% Monday, while in Hong Kong, the Hang Seng index gained 1.4%.
Oil prices lost 33 cents to $77.68 U.S. a barrel.
Gold prices dropped 90 cents to $2,184.60.
