US stock futures rise on tech rebound before Nvidia, inflation tests
SPY•Fed outlook remains in focus
Concerns over ballooning government debt and elevated oil prices pushed the 30-year Treasury yield to a 19-year high last week, battering technology stocks and putting the three indexes in the red for the week.
The U.S. Treasury's intervention, including increased buybacks and reports that it will tap its general account to fund those buybacks, however, helped calm some jitters.
Meanwhile, the PCE report could provide greater clarity on price pressures in the economy after a tame consumer inflation reading this month materially tempered bets on an imminent interest-rate hike from the U.S. Federal Reserve in September.
Still, money market participants are pricing in one 25-basis-point rate increase by the end of the year, according to LSEG data.
Against this backdrop, Fed Chair Kevin Warsh's Jackson Hole speech on Friday will be closely watched for how the central bank will approach monetary policy amid the Treasury intervention and the latest economic data.
