Futures tread higher after big gains on Friday
(Reuters) -U.S. stock index futures edged higher on Monday, pointing to more gains on Wall Street after a jobs data-led rally in the previous session, as traders priced in a higher chance of the Federal Reserve cutting interest rates this year. Traders are currently pricing in rate cuts worth 48 basis points from the Fed by the end of 2024, with the first cut expected in September or November, according to LSEG's rate probability app. The Fed last week left interest rates unchanged and signaled it was leaning toward eventual reductions in borrowing costs, but repeated that it wants to gain "greater confidence" that inflation will continue to fall before cutting rates.
