US futures edge up as investors mull over inflation ahead of key jobs data; oil trades near three-year highs ahead of OPEC+

US futures edge up as investors mull over inflation ahead of key jobs data; oil trades near three-year highs ahead of OPEC+

US futures edged up on Monday as investors' attention turned to US non-farms payroll data on Friday, which will give an indication of how consistently the economy is recovering from the pandemic and what that might mean for the outlook for inflation. Inflation typically rises at times of sustained, strong economic growth. The last report showed evidence of a labor shortage, which could renew concern about a more prolonged rise in inflation that could force the Federal Reserve to wind down its support for the economy more rapidly. were last up by 0.23% at 4:14 am E.T. on Monday, while inched 0.05% higher. were down 0.06%. Analysts appear to be expecting non-farms payrolls to increase by 600,000-700,000 for June, which would, in theory, keep the unemployment rate below pre-pandemic levels. "We strongly suspect that labor market strains will linger for several more months given we are now entering school summer holiday season and for most people the Federal benefits will continue through to September." ING economists noted. The yield on the US 10-year Treasury note was last at 1.517%, down by 1.9 basis points. Yields have fallen by around 10 basis points in the last month, as the Fed has