Dow, S&P 500, Nasdaq futures pull back from records as Wall Street gets set for Fed-focused week

Market Overview - US stock futures retreated with Dow Jones Industrial Average futures down approximately 0.4%, S&P 500 futures down 0.3%, and Nasdaq 100 futures also about 0.4% lower, following a strong week for stocks as investors anticipated the Fed's return to easing [1] - Gold reached a new all-time high, exceeding $3,750, driven by expectations of two more interest rate cuts by the Fed before the end of 2025 [2] Inflation and Federal Reserve - Markets are awaiting the upcoming reading of the personal consumption expenditures (PCE) price index, which is the Fed's preferred inflation gauge, with expectations that a weak print could increase the likelihood of a quarter-point rate cut in October [3] - Wall Street anticipates that the PCE for September will indicate persistent price pressures, but still manageable enough to keep the Fed on its current path [3] Federal Reserve Speakers - Investors are looking for insights from a series of Federal Reserve speakers, including Chair Jerome Powell and newly appointed Fed governor Stephen Miran, who is expected to share his policy views [4] Corporate Earnings - Attention is focused on Micron Technology for updates on AI-driven demand and Costco for insights into consumer spending in upcoming earnings reports [6]