Stock futures are little changed to start the new week: Live updates

European markets had a cautious start to the week, with the benchmark Stoxx 600 index 0.06% lower at 8:05 a.m. in London.

France’s CAC 40 and the U.K.’s FTSE 100 were both near the flatline, while Germany’s DAX nudged 0.2% higher.

The People’s Bank of China has announced a “re-loan” program of 500 billion yuan ($70 billion) for technological innovation and transformation to support small and medium-sized tech enterprises.

A re-loan program uses funds lent by the PBOC to commercial banks, which then lend them to customers.

In a statement on Sunday, the PBOC said the program will offer loans via 21 banks at a rate of 1.75%, and the loans can be extended twice for up to a year each time.

— Lim Hui Jie

Chinese real estate development firm Shimao has become the latest property company to face a liquidation lawsuit after it received a winding up petition from China Construction Bank (Asia).

This follows lawsuits faced by counterparts Evergrande, which was ordered to wind up, and Country Garden Holdings, which also faces a liquidation petition.

In a filing to the Hong Kong Stock Exchange, the company said the petition was in connection with debt of about 1.58 billion Hong Kong dollars.

Shimao said the petition does not represent the collective interests of its offshore creditors and other stakeholders, adding it will “oppose the petition vigorously.”

Last month, Shimao released a restructuring plan for its offshore debt, saying that the plan represents “a reasonable and realistic solution” for its credit-holders.

— Lim Hui Jie

Bank of America economists believe Wednesday’s inflation report should show a moderation in price pressures, providing confidence to the Fed for a rate cut in June.

The Wall Street firm expects the core consumer price index to moderate to 0.2% in March after rising 0.4% in February and January. It sees declines in car prices that should lead to a drop in core goods. Meanwhile, the bank expects a bigger-than-usual rise in energy prices, however.

“The moderation in core CPI should reflect a drop in core goods prices and a more modest price increase in core services,” the bank’s economists said in a note. “A report in line with our expectations would provide confidence to the Fed and keep a June cut firmly in play.”

— Yun Li

Shares of Tesla jumped 3.8% in after-hours trading Friday after CEO Elon Musk said his electric vehicle company is set to unveil robotaxi later this year.

Musk said in a Friday night post on social media platform X that the unveil will take place on Aug. 8.

Musk has spoken about the robotaxi project for years. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into “level 3” automated vehicles.

— Yun Li