Traders work on the trading floor of the New York Stock Exchange on January 10, 2025 in New York City.
New York Stock Exchange
Stock index futures were hovering near flat lines late Tuesday as traders looked ahead to the release of December’s consumer price index, a key measure of inflation.
Futures linked to the Dow Jones Industrial Average It rose 37 points, or nearly 0.1%. S&P 500 Index Futures Not much has changed, and Nasdaq 100 Futures up 0.1%.
Regular trading hours, blue chip stocks Dow Chemical Increased 221.16 points, or 0.52% S&P 500 Index Add 0.11%. On the other hand, a pullback in technology stocks has put pressure on the stock market. Nasdaq Indexdown 0.23%.
The moves come after a lower-than-expected wholesale inflation report for December. Producer prices rose just 0.2%, missing the Dow Jones consensus estimate of a 0.4% gain.
Following the release of this data, investors will now turn their attention to the December Consumer Price Index, which will be released at 8:30 a.m. ET on Wednesday. Economists surveyed by Dow Jones expect overall CPI to rise 0.3% quarter-to-quarter and 2.9% higher than the previous 12 months. The Fed will consider inflation data when it makes an interest rate decision later this month.
The fourth-quarter earnings season also officially kicks off this week, with many large financial services companies set to release their results. BlackRock, JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup Results will be announced before the market opens on Wednesday.
“We do think earnings are going to be stronger,” said Jay Hatfield, founder of Infrastructure Capital Advisors. “The economy is strong in the fourth quarter. Typically, companies know by then if they have a problem, they Probably very optimistic about the future because the Trump administration is pro-business, so we think most CEOs are very optimistic about their forecasts for 2025.
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