U.S. stock futures were little changed Tuesday morning as investors awaited a key inflation report that could influence the Federal Reserve’s decision on interest rates next month.
Dow Jones Industrial Average Futures (YM=F) increased by 0.5%, while those of the S&P 500 (ES=F) increased by 0.2%. Contracts for the Nasdaq-100 (NQ=F) fell below the flat line after stocks rebounded on Monday.
Investors will closely monitor the release of the Consumer Price Index, which is expected to show a slowdown in inflation. Economists expect inflation to rise 0.3% from the previous month and core inflation, which excludes food and energy prices, to fall to 0.2%.
Nvidia (NVDA) investors continue to be reeling from the board’s investigation into CEO Jensen Huang following reports of his affair with an alleged Chinese spy. Nvidia stock rebounded slightly on Tuesday morning after falling more than 4% the day before.
Oil prices are falling, with Brent crude (BZ=F), the international benchmark, and WTI crude (CL=F), the US benchmark, down more than 2%.
With most of the third-quarter earnings season in the rearview mirror, Nvidia-backed Neocloud CoreWeave (CRWV) and quantum computing stocks Quantum (QBTS) and Rigetti Computing (RGTI) are reporting results after the bell today.
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