U.S. Stock Futures Rise Despite Inflation Concerns
U.S. stock futures gained ground Thursday despite a hotter-than-expected January inflation report that dashed hopes of an early interest rate cut.
* Dow Jones futures (YM=F) rose 0.1%
* Nasdaq futures (NQ=F) climbed 0.2%
* S&P 500 futures (ES=F) advanced 0.2%
Inflation Report Raises Fed Hike Expectations
The inflation report showed consumer prices rose more than forecast in January, with inflation hovering around 3%. This data increases the likelihood that the Federal Reserve will maintain interest rates for the foreseeable future while waiting for inflation to approach its target of 2%.
Reddit, Robinhood After-Hours Trading
* Reddit (RDDT) stock fell in after-hours trading after missing user growth targets in its earnings report.
* Robinhood (HOOD) stock surged after reporting better-than-expected fourth-quarter profits.
Upcoming Economic Data and Earnings Reports
* Producer Price Index (PPI) data, tracking wholesale price changes, is expected on Thursday at 8:30 a.m. ET.
* Earnings reports are anticipated from AirBnB (ABNB), Roku (ROKU), and Coinbase (COIN) on Thursday.
Trade War Concerns Linger
President Donald Trump's ongoing trade war with China continues to cast a shadow. The president has indicated that reciprocal tariffs may be enacted by the end of the week.