US Stock Futures Hold Steady Ahead of Inflation Report
Nasdaq futures (NQ=F) advanced 0.2%, while S&P 500 futures (ES=F) and Dow futures (YM=F) remained unchanged as investors await the release of January's inflation report.
The CPI report, scheduled for Wednesday at 8:30 a.m. ET, is expected to show a 0.3% monthly increase in consumer prices, slowing from December's 0.4% rise. Excluding food and gas, prices are projected to have risen 3.1% year-over-year.
Federal Reserve Chair Jerome Powell reiterated the central bank's cautious approach to interest rate cuts in a recent address to Congress, citing inflation and policy uncertainties.
Reddit (RDDT) and Robinhood (HOOD) are set to announce earnings after market close on Wednesday, with high expectations on Wall Street for both companies.
Despite the recent market volatility caused by tariffs, a survey suggests that public confidence in Trump's economic handling has declined. Reciprocal tariffs are anticipated to be announced on various countries by Friday.
Alibaba Soars on Apple Partnership
Alibaba (BABA) shares surged over 10% on news that Apple (AAPL) is collaborating with the Chinese e-commerce giant to enter the artificial intelligence market in China.