U.S. stock futures rose early Tuesday as traders braced for a crucial consumer inflation report.
S&P 500 futures added 0.16%, and Dow Jones Industrial Average futures climbed 197 points, or 0.38%. Nasdaq-100 futures stayed little changed.
Monday marked a strong recovery session for regular U.S. trading. The Dow Industrials surged 1,104 points, or 2.2%, while the S&P 500 popped about 2.4%. The Nasdaq Composite rose 2.7% following a rocky week driven by market worries over a potential slowdown in data center buildouts after Democratic midterm election victories.
Asian and Australian markets posted solid gains on Tuesday. South Korea’s Kospi surged 4.3%, Japan’s Nikkei 225 added 2.89%, and Hong Kong’s Hang Seng Index rose 0.42%. Mainland China’s CSI 300 added 0.26%, and Australia’s S&P/ASX 200 gained 1.27%.
Oil prices lent support to equities by falling on Monday. U.S. West Texas Intermediate futures settled down more than 4%, and Brent crude futures slid more than 5%.
Investors awaited the October consumer price index report scheduled for release on Tuesday. Economists polled by Dow Jones expect headline CPI to grow at a rate of 0.3% and core CPI to rise 0.2% from the prior month.
That would mark a deceleration from September readings, when headline CPI grew 0.6% and core CPI advanced 0.3%. We think the slowdown in core CPI will stem from a reversion of shelter prices, primarily owners’ equivalent rents and lodging away from home,
wrote Christopher Hodge, chief economist of the U.S. at Natixis CIB Americas.
Annual figures will not be provided for Tuesday’s report because of the 2025 government shutdown. The Bureau of Labor Statistics was unable to collect specific data during that period, leaving no comparable figure for the index.
Earlier coverage: Dow Futures Rally 500 Points as Oil Prices Drop; Traders Brace for More Data and Earnings: Live Updates
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