U.S. stock futures were slightly lower Monday after a winning week, as traders looked ahead to the Federal Reserve’s interest rate decision and May inflation data. Dow Jones Industrial Average futures fell by 31 points, or about 0.1%. S&P 500 futures and Nasdaq 100 futures also slid 0.1%. Nvidia shares were down 0.2% as the stock’s 10-1 spilt took effect. The chipmaker now trades around $120 per share post-split. Wall Street is coming off a positive week for the major averages, with the S&P 500 having touched a record intraday high on Friday. The broad market index advanced 1.32%. Meanwhile, the 30-stock Dow registered a 0.29% gain, while the Nasdaq Composite climbed 2.38%. Notably, Nvidia notched a 10% advance last week as enthusiasm for the artificial intelligence darling pushed the chipmaker past the $3 trillion market capitalization for the first time. However, the Fed’s latest rate decision and May’s consumer price index that are expected Wednesday could prove key tests for markets, especially after Friday’s strong jobs report continued to suggest the central bank could hold off on lowering rates. Investors will parse through the Fed’s updated projections on the timing and frequency of rate cuts. Markets are now pricing in just one rate cut this year, coming in November, according to the CME FedWatch tool. “Implications for FOMC policy are mixed in our view,” wrote Macquarie’s David Doyle, who anticipates in his base case that rate cuts will commence in 2025. “On the dovish side of the ledger is that the rise in unemployment has become more meaningful. … On the hawkish side is that the firm NFP and associated details suggest labor demand growth remains solid.” Elsewhere, on Monday, investors will also keep an eye on Apple’s Worldwide Developers Conference at which the iPhone maker is anticipated to makes its latest software announcements. U.S. Treasury yields were higher on Monday as investors looked ahead to the Federal Reserve’s monetary policy meeting and key inflation data due this week. The yield on the 10-year Treasury was up by nearly 4 basis points at 4.465%. The 2-year Treasury yield was last 1 basis point higher at 4.883%. Asia-Pacific markets were mixed on Monday after a stronger-than-expected U.S. jobs report on Friday revealed hiring and wage growth picked up in May. Japan’s Nikkei 225 climbed 0.92% to close at 39,038.16, while the broad-based Topix gained 1% to 2,782.49 after the GDP announcement. In contrast, the South Korean Kospi closed down 0.79% at 2,701.17 and the small cap Kosdaq slipped 0.17%, snapping a five-day winning streak and ending at 864.71. A few Asian markets are closed for a holiday Monday, including Australia, mainland China, Hong Kong and Taiwan. Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in the coming weeks. Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer transportation and cooling demand pushes the market into a “sizeable” deficit of 1.3 million barrels per day. West Texas Intermediate July contract: $76.38 a barrel, up 85 cents, or 1.1%. Year to date, U.S. has gained 6.6%. Brent August contract: $80.44 a barrel, up 81 cents, or 1%. Year to date, the global benchmark is ahead 4.4%. Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. Spot gold was up 0.1% at $2,295.90 per ounce. U.S. gold futures fell 0.5% to $2,313.70.