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Market Update: US Stock Futures Flat at Record Highs
US Futures were little changed in overnight deals on Monday after finishing at record levels during the regular session as investors rotated out of economically sensitive cyclical stocks into technology names ahead of the Fed’s two-day June meeting. While a re-opening economy has unleashed pent-up demand, the supply side of the equation is striving to meet it, resulting in the price pressures seen in recent data, however, the Fed has reassured that any spike in inflation would be transitory. Later in the session, market participants will also be closely monitoring fresh producer price and retail sales data. On Monday, The Dow fell 85 points or 0.25% to 34393.76, S&P 500 gained 0.18% to close at a new record of 4,255.15 and the Nasdaq Composite added 104.72 points or 0.74% to 14174.14. [/s2If]
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