US Stock Futures Edge Higher Despite Inflation Report
US stock futures gained traction Thursday, shrugging off a hotter-than-expected inflation report for January.
* Dow Jones futures (YM=F): +0.1%
* Nasdaq futures (NQ=F): +0.2%
* S&P 500 futures (ES=F): +0.2%
Inflation Data Impacts Fed Outlook
January's inflation report revealed consumer price increases surpassing forecasts, with inflation hovering near 3%. This data reinforces expectations that the Federal Reserve will maintain interest rates for the foreseeable future while closely monitoring inflation's trajectory towards its 2% target.
Reddit and Robinhood Earnings
* Reddit (RDDT): Stock declined in after-hours trading Wednesday after reporting earnings that missed user growth estimates.
* Robinhood (HOOD): Soared after the bell due to fourth-quarter profits exceeding expectations.
Economic Data and Earnings Watch
Thursday's economic calendar features the release of the producer price index (PPI) at 8:30 a.m. ET. Analysts anticipate a 0.3% increase in the PPI, which measures wholesale price changes.
Investors will also eagerly await earnings reports from AirBnB (ABNB), Roku (ROKU), and Coinbase (COIN) on Thursday.
Trade War Concerns Linger
President Trump's ongoing trade war remains a potential market factor. While an announcement on reciprocal tariffs is not imminent, the president has indicated that tit-for-tat duties may materialize by the end of the week.