US Stock Futures Mixed Ahead of Inflation Data
US stock futures are holding steady on Wednesday as investors await the release of the latest consumer inflation data, which will provide clues about the Federal Reserve's interest rate policy path.
Dow Jones Industrial Average Futures
* YM=F
* Down 0.2%
S&P 500 Futures
* ES=F
* Unchanged
Nasdaq 100 Futures
* NQ=F
* Up 0.1%
The Consumer Price Index (CPI) report for January, due at 8:30 a.m. ET, is expected to show a slight easing in inflation. Headline inflation is forecast at 2.9% annually and 0.3% monthly, while core inflation is projected at 3.1%, the lowest rate since April 2021.
The Fed has indicated that it is in no rush to change its policy stance, despite expectations of rate cuts earlier in the year. However, the CPI data could influence the market's pricing of future rate actions.
Earnings and Economic News
* Kraft Heinz (KHC) shares declined after the food maker lowered its 2025 profit outlook.
* CVS Health (CVS) stock gained as investors welcomed a smaller-than-expected decline in quarterly earnings.
* Reddit (RDDT) and Robinhood (HOOD) will report earnings after the market close, attracting significant attention.
International Markets
* Europe: Stocks in Europe are trading sideways, awaiting the CPI data release.
* Gold: Gold prices are consolidating after a recent record-setting rally, as investors assess the Fed's cautious stance on interest rates.
* MSCI China Index: Morgan Stanley, JPMorgan, and UBS analysts predict continued growth in Chinese stocks driven by artificial intelligence advancements.