U.S. stocks are poised to start Monday’s session in the red as traders brace for the all-important decision from the Federal Reserve’s monetary policy committee on Wednesday and the May inflation report ahead of the rate decision. Although the futures market has factored in a Fed pause, rate cuts announced by two G7 central banks last week have increased hopes of a dovish message from their U.S. counterpart. Given the paucity of data and the overbought levels, the market may most likely tread water before taking a meaningful move on either side. Futures Performance (+/-) Nasdaq 100 -0.08% S&P 500 -0.15% Dow -0.21% R2K -0.80% In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.12% to $533.36, and the Invesco QQQ ETF (NASDAQ:QQQ) traded down 0.06% at $462.67, according to Benzinga Pro data. Cues From Previous Week: Wall Street posted weekly gain in the week ended June 7 as traders cheered data showing a loss of momentum in the jobs market, which is widely considered a precursor for Fed rate cuts. The Nasdaq Composite and the S&P 500 notched up intraday and closing highs on Wednesday before giving back some gains over the remaining two sessions. Nonetheless, the S&P 500 posted a fresh intraday high on Friday but ended off its Wednesday closing high. Index Week’s Performance (+/-) Value Nasdaq Composite +2.38% 17,133.13 S&P 500 Index +1.32% 5,346.99 Dow Industrials +0.29% 38,798.99 Russell 2000 -2.11% 2,026.55 Insights From Analysts: The broader equity market rally seen this year is impressive, given last year's strength and tempered expectations concerning rate cuts, said Comerica Chief Investment Officer John Lynch in ...