US Stock Futures Rise Amid Inflation Worries
January's inflation report sparked concerns as consumer prices exceeded forecasts, reaching approximately 3%. This has increased the likelihood that the Federal Reserve will maintain interest rates for the near future while inflation approaches its target of 2%.
Despite this, US stock futures exhibited positive movement. Dow Jones futures (YM=F) gained 0.1%, while Nasdaq futures (NQ=F) and S&P 500 futures (ES=F) both rose by 0.2%.
Elsewhere, earnings reports led to contrasting performances in after-hours trading. Reddit (RDDT) shares dropped due to disappointing user growth metrics. Conversely, Robinhood (HOOD) surged after exceeding fourth-quarter profit expectations.
On Thursday, investors await further inflation insights with the release of the producer price index (PPI) at 8:30 AM ET. Analysts anticipate a 0.3% increase in PPI, which tracks wholesale price fluctuations.
Earnings reports from AirBnB (ABNB), Roku (ROKU), and Coinbase (COIN) are also slated for Thursday.
The ongoing trade war between the US and China remains a concern, with President Donald Trump threatening reciprocal tariffs by the end of the week.