On Friday, Wall Street's indexes achieved record highs, and futures markets have since steadied. Technology stocks continued their upward trajectory, despite stronger-than-expected nonfarm payrolls data failing to deter expectations of a December rate cut. S&P 500 Futures are currently at 6,098.25 points, with Nasdaq 100 Futures flat at 21,651.75 points as of 18:21 ET (23:21 GMT). Dow Jones Futures are also flat at 44,700 points.

Geopolitical Uncertainty in Syria

Rebel forces have ousted President Bashar al-Assad and taken control of Damascus, ending 13 years of civil war. This major regime change has left investors waiting to see what it will entail for geopolitics in the Middle East. Media reports suggest that al-Assad has landed in Moscow, and Israeli forces have entered Syria. The situation in Syria is adding an element of uncertainty to global markets.

Investors are closely monitoring these developments as they could have significant implications for various asset classes. The uncertainty surrounding Syria's future may lead to increased volatility in financial markets in the coming weeks and months.

Moreover, the outcome of this geopolitical event could also influence the Federal Reserve's decisions regarding interest rates. With the focus on consumer price index inflation data due on Wednesday, any further developments in Syria could add another layer of complexity to the economic picture.

Consumer Price Index Inflation Data

This week, the main focus is on the consumer price index inflation data. According to Reuters estimates, the reading is expected to show a 2.7% year-on-year increase in the headline figure through November. Core CPI inflation is also anticipated to have remained sticky in November, which may give the Federal Reserve less incentive to cut interest rates aggressively.

The data will provide crucial insights into the state of the U.S. economy and help guide the Federal Reserve's monetary policy decisions. A higher-than-expected inflation reading could potentially lead to a more cautious approach from the central bank regarding rate cuts.

However, despite the expected increase in inflation, the labor market remains strong. Data on Friday showed stronger-than-expected growth in nonfarm payrolls, but the participation rate shrank, and growth in manufacturing payrolls was underwhelming. This suggests that while the economy is showing some signs of strength, there are also areas that require attention.

Impact on Wall Street

Wall Street indexes mostly shrugged off the strong payrolls data on Friday. Gains in technology stocks, driven by persistent optimism over artificial intelligence, offset declines in other economically sensitive sectors. The S&P 500 rose 0.3% to 6,090.27 points, while the NASDAQ Composite rose 0.8% to 19,859.77 points, both reaching new highs. However, the Dow Jones Industrial Average lagged, falling 0.3% to 44,642.52 points.

The performance of different sectors on Wall Street highlights the complexity of the current market environment. While technology stocks continue to drive the upward trend, other sectors are facing challenges and adjustments.

Markets are also eagerly awaiting more cues on what President-elect Donald Trump's policies will bring to the U.S. in the coming years. His policies could have a significant impact on various industries and markets, adding another layer of uncertainty to the already complex economic landscape.