US Stock Futures Steady Ahead of Inflation Data Release
New York, NY - US stock futures are holding steady as investors anticipate the release of January's inflation report. The data is expected to provide insights into the Federal Reserve's interest rate plans amid President Donald Trump's economic policy initiatives.
Key Highlights:
* Nasdaq futures (NQ=F) gained 0.2%.
* S&P 500 futures (ES=F) remained flat.
* Dow Jones futures (YM=F) also remained unchanged.
Inflation Report:
The January Consumer Price Index (CPI) report is scheduled for release on Wednesday at 8:30 a.m. ET. Economists forecast a 0.3% increase in consumer prices over the previous month, slightly slower than the 0.4% rise in December. Excluding food and gas, prices are projected to have climbed 3.1% year-over-year.
Fed Chair's Comments:
Federal Reserve Chair Jerome Powell reiterated the central bank's cautious stance on interest rate cuts during a speech before Congress on Tuesday. Powell cited persistent inflation and policy uncertainties under the Trump administration.
Earnings Season:
Reddit (RDDT) and Robinhood (HOOD) are expected to report their earnings after Wednesday's market close. Wall Street analysts are optimistic about Reddit's performance, while Robinhood's stock has recently hit a three-year high.
Trade Uncertainty:
As tariffs continue to roil markets, a recent survey found that trust in Trump's handling of the economy has declined. Additional reciprocal tariffs are expected to be announced on several countries by the end of the week.
Alibaba Soars on AI News:
Shares of Alibaba (BABA) surged over 10% on news that Apple (AAPL) is collaborating with the Chinese e-commerce giant on artificial intelligence initiatives in China.