Stock Market Today: Impact of CPI Inflation Report on Dow Futures
Wednesday, 11 September 2024, 01:56
CPI Inflation Report Ahead: Market Movements
S&P 500 futures are down 0.4%. Dow Jones Industrial Average futures are off 0.4%. Nasdaq 100 futures are slipping 0.5%.
Market Overview
On Tuesday, the Dow Jones Industrial Average fell 93 points, or 0.23%, to 40,737, while the S&P 500 increased 24 points, or 0.45%, to 5,496. The Nasdaq Composite gained 141 points, or 0.84%, to 17,026.
- Equity index futures remain soft ahead of the U.S. consumer price inflation report due at 8:30 a.m.
- Economists forecast the headline annual CPI rising 2.6%, down from July's reading of 2.9%.
- The reduction in CPI is expected to enable the Federal Reserve to cut interest rates next week.
Political Climate's Effect on Markets
Meanwhile, U.S. assets including the dollar and stock-index futures have pared some losses that followed Kamala Harris' victory in the presidential debate against Donald Trump.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.