US stock futures edge higher with Fedspeak, labor data in focus By Investing.com

Investing.com– U.S. stock index futures rose in evening deals on Sunday as investors awaited more cues on interest rates from a slew of Federal Reserve officials and key labor market readings this week. 

Wall Street was nursing losses from Friday, after data- a key inflation gauge for the Fed- showed inflation remained sticky in May. Uncertainty over the 2024 Presidential elections, after a debate between President Joe Biden and rival Donald Trump, also kept sentiment on edge. 

rose 0.2% to 5,532.50 points, while rose 0.2% to 19,965.0 points by 19:10 ET (23:10 GMT). rose 0.1% to 39,512.0 points.

Fed comments, labor data in focus

Focus this week was on a slew of comments from Fed officials, chiefly , who is set to speak at the European Central Bank’s annual forum in Portugal on Tuesday. 

The are also due on Wednesday, and are expected to offer more insight into interest rates after the bank struck a hawkish note during the meeting. 

Fed officials have largely maintained their stance that the bank will seek inflation reaching its 2% target before pursuing any interest rate cuts. 

Beyond the Fed commentary, focus this week is also on key data for June, due on Friday. The reading is set to provide more insight into the labor market, whose resilience has also been a key point of contention for the Fed in cutting rates. 

Wall Street rangebound amid holiday trade

Wall Street indexes closed lower on Friday, and have remained largely rangebound near record highs in recent sessions. Slim trading volumes, amid the summer holidays, also made for little action.

The Independence Day holiday on Thursday is also set to shorten the trading week.

The fell 0.4% to 5,460.48 points, while the fell 0.8% to 17,723.83 points. The fell 0.1% to 39,118.86 points on Friday. 

Among individual stocks, Boeing Co (NYSE:) was in focus after Reuters reported that the planemaker had agreed to buy Spirit Aerosystems Holdings Inc (NYSE:) for $4.7 billion.