Nasdaq Hits Record as Markets Eye Inflation Data

Wall Street is poised for a positive start to the shortened week after Memorial Day, with S&P500 futures rising and consumer confidence updates in focus. Despite expectations of a slight cooling in consumer confidence, the main event is Friday's PCE inflation gauge. The Federal Reserve faces a dilemma on whether its policies have sufficiently curbed inflation, with some officials hinting at potential rate hikes. Treasury yields dipped, and oil prices rose ahead of an OPEC+ meeting. The dollar weakened, and the euro gained amid expectations of ECB rate cuts. U.S. markets will also see a shift to a T+1 settlement cycle starting Tuesday.