Tuesday saw a small increase in stock futures as Wall Street assesses whether the market boom can withstand more inflation news.
The Dow Jones Industrial Average-linked futures saw a 0.1% increase of 51 points. While Nasdaq 100 futures crept up by 0.1%, S&P 500 futures fluctuated around the flat line.
8:30 a.m. ET is when the consumer price index report for November is expected to be released. Monthly price increases are anticipated by economists surveyed by Dow Jones. It is anticipated that the CPI increased by 3.1% annually.
The report’s release coincides with investors’ attempts to cap off a successful year. Currently riding three-day winning streaks, the Dow, S&P 500, and Nasdaq Composite have all increased for six straight weeks. The Dow Jones 30-stock index closed at its highest level since January 2022, and the S&P 500 likewise reached its greatest closing level since March 2022.
Hopes for a situation akin to Goldilocks’ are the foundation of the recent upswing. That is to say, there would be fewer recessions and slower economic growth, along with a significant number of Fed rate decreases brought on by the ongoing, steep decline in inflation. Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute, wrote in a note to investors, “Unfortunately, we feel most of the good news is underestimated.”
Source (CNBC)
