On Thursday, futures linked to the S&P 500 showed moderate gains as investors on Wall Street braced themselves for the latest inflation figures and the commencement of the fourth-quarter earnings season.
S&P 500 futures saw a marginal increase of 0.1%, while Nasdaq 100 futures showed a more pronounced growth of 0.3%. Conversely, Dow Jones Industrial Average futures witnessed a slight decline of 23 points, equivalent to a 0.1% decrease.
The consumer price index (CPI) report for December is scheduled to be released at 8:30 a.m. ET. According to economists surveyed by Dow Jones, it is anticipated that the CPI will have risen by 0.2% in December and 3.2% on a year-over-year basis.
These inflation numbers are significant as they are expected to serve as a crucial catalyst for the markets, shedding light on whether the Federal Reserve’s measures to curb inflation have been effective. Furthermore, the data could challenge the market’s expectations of six interest rate cuts in 2024, as compared to the central bank’s projection of three reductions for this year.
Source (CNBC)
