US Stock Futures Hold Steady Ahead of Inflation Data Release
Investors are anticipating the release of January's inflation report, expected on Wednesday at 8:30 a.m. ET. Forecasts indicate a 0.3% rise in consumer prices from the previous month, a slight decrease from December's 0.4%. Excluding food and gas, prices are projected to increase 3.1% year-over-year.
On Tuesday, Federal Reserve Chair Jerome Powell addressed Congress, expressing caution about interest rate cuts amidst persistent inflation and policy uncertainties under the current administration.
Company Earnings in Focus
Reddit (RDDT) will report earnings after market close on Wednesday, with analysts expecting strong results from the social media platform. Robinhood (HOOD) earnings are also anticipated, as its stock recently reached a 3-year high.
Trade Tariffs Continue to Impact Markets
A recent study revealed a decline in trust in the government's handling of trade tariffs. Reciprocal tariffs are expected to be announced on various countries by the end of the week.
AI-Driven Stock Surge in China
Strategists on Wall Street are supporting China's AI-led stock rally, believing the country's emerging technological capabilities will sustain growth. Analysts predict that gains fueled by DeepSeek's AI model will persist.
Alibaba Stock Rises Amid Apple AI Collaboration
Alibaba (BABA) shares soared over 10% following news that Apple (AAPL) is partnering with the e-commerce giant to enter China's artificial intelligence market.