Stock Futures Steady Amid Inflation Data and Powell's Testimony

U.S. stock index futures saw negligible movement on Monday as investors awaited key inflation data and Federal Reserve Chair Jerome Powell's testimony. Notably, the week heralds the start of the earnings season with major banks poised to announce their results. Boeing and Paramount Global also made significant headlines.

U.S. stock index futures remained largely unchanged on Monday as investors braced for a pivotal week marked by key inflation data and Congressional testimony from Federal Reserve Chair Jerome Powell. The market's performance this week is anticipated to provide more clarity on the Fed's monetary policy trajectory for the rest of the year.

The futures for the Dow Jones Industrial Average edged up by 0.06%, while the S&P 500 stayed flat and the Nasdaq dipped slightly by 0.01%. Investors continue to parse economic indicators, particularly the upcoming release of June's consumer price index, for signs of easing price pressures.

In corporate news, Paramount Global's shares rose by 2.5% following their announced merger with Skydance Media. Boeing saw a 1.0% increase in its stock after agreeing to a plea deal in a criminal fraud case related to the 737 MAX incidents. This week also marks the kickoff of the Q2 earnings season, with major financial institutions like JPMorgan Chase and Citigroup set to report their earnings.

(With inputs from agencies.)