US Stock Futures Steady Ahead of Inflation Report
US stock futures held steady as investors awaited the release of the January inflation report, which could provide insights into the Federal Reserve's interest rate plans amidst President Donald Trump's economic policies.
Nasdaq futures (NQ=F) edged up 0.2%, while S&P 500 futures (ES=F) and Dow Jones futures (YM=F) remained flat.
The January CPI report is scheduled for release on Wednesday at 8:30 a.m. ET. Consumer prices are forecast to have risen 0.3% over the previous month, a slight slowdown from the 0.4% gain in December. Excluding food and energy, prices are expected to have climbed 3.1% year-over-year.
Federal Reserve Chair Jerome Powell addressed Congress on Tuesday and reiterated the central bank's cautious approach to cutting interest rates in the face of persistent inflation and policy uncertainty under Trump.
Earnings from Reddit (RDDT) are expected after-hours on Wednesday, with Wall Street analysts anticipating strong results from the social media company. Investors are also looking forward to earnings from Robinhood (HOOD), whose stock recently reached a three-year high.
Amid ongoing trade tensions, a recent report suggests that trust in Trump's handling of the economy has been eroded. Reciprocal tariffs are expected to be imposed on several countries by Friday.