Traders work on the floor of the New York Stock Exchange on January 10, 2025 in New York.
New York Stock Exchange
Stock futures were hovering near the flat line late Tuesday as traders eagerly awaited the release of the December consumer price index, a key indicator of inflation.
Futures contracts linked to the Dow Jones Industrial Average increased by 37 points, or almost 0.1%. S&P 500 Futures Contracts have changed little, and Nasdaq 100 Futures climbed 0.1%.
In ordinary session, the blue chip Dow gained 221.16 points, or 0.52%, while the S&P500 added 0.11%. On the other hand, the decline in technology stocks weighed on Nasdaq Compositewhich fell by 0.23%.
The moves came after December’s wholesale inflation report was softer than expected. The producer price index rose just 0.2%, less than the Dow Jones consensus estimate of a 0.4% increase.
Following the release of this data, investors are now turning their attention to the reading of the December Consumer Price Index, which will be released Wednesday at 8:30 a.m. ET. Economists surveyed by Dow Jones forecast headline CPI to rise 0.3% on a monthly basis and 2.9% over the previous 12 months. The inflation figure will be a factor for the Federal Reserve to consider when it makes its interest rate decision later this month.
The fourth-quarter earnings season also kicks off in earnest this week, with a slew of major financial services companies expected to report results. black rock, JPMorgan Chase, Wells Fargo, Goldman Sachs And Citi Group will release results before the opening bell on Wednesday.
“We think earnings will be stronger,” said Jay Hatfield, founder of Infrastructure Capital Advisors. “The economy is strong in the fourth quarter. Usually companies learn if they have a problem at that time, and they will probably be quite optimistic about the future because the Trump administration is pro-business. We think so most CEOs are quite optimistic about the forecasts for 2025.”
