A trader works at the NYSE in New York, June 13, 2022.
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Stock futures rose on Tuesday as investors looked ahead to a key inflation report due for release on Wednesday.
Dow Jones Industrial Average futures rose 20 points, or 0.06%. S&P 500 and Nasdaq 100 futures rose 0.05% and 0.09%, respectively.
The moves come after the S&P 500 and Nasdaq fell by The third day in a row on Tuesday. The Nasdaq Composite led the declines, falling 1.19% afterwards micronAnd the Novavax And the cocky He warned that future profits and returns could come in lower than previously thought. The S&P 500 Index is down 0.42%, and the Dow Jones Industrial Average is down 0.18%.
Inflation report looming
Investors await the latest CPI report, which may confirm or dispel hopes that high prices have stabilized. Economists expect the report to show inflation slowed slightly, led by lower oil prices.
“In terms of reactions, the market is initially going to be more excited about a negative core CPI surprise than a bullish one, especially in terms of risk appetite,” Deutsche Bank’s Alan Ruskin wrote in a note on Tuesday. “There is a downside surprise playing out as ‘hopes’ that peak oil/food commodities, as well as sluggish demand, will quickly carry over to US inflation data.”
The Federal Reserve will balance the report, along with other key economic data, ahead of its September meeting when it is set to raise interest rates again.
Earnings season continues, too, with Disney’s quarterly results due after the Wednesday bell.
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