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Market Update: US Stock Futures Little Changed to Start the Week
US stock futures were little changed on Monday after Wall Street rallied Friday, with the S&P and the Nasdaq reaching record closing highs for the fourth time last week, after Fed Chair Powell indicated that the central bank would taper by the end of the year, but indicated that a reduction in asset purchases will not carry a direct increase in interest rates. On the data front, personal income and spending continued to rise in July and core PCE inflation eased for a second straight month. Traders now anticipate US nonfarm payroll figures for August later in the week. Last week, the Dow Jones jumped 1% to 35,456, the S&P 500 climbed 1.5% to 4,509 and the Nasdaq Composite surged 2.8% to 15,129. [/s2If]
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