Wall Street Points to a Higher Open Ahead of Critical July Inflation Data
Traders await a report expected to show 0.1% monthly headline inflation, while bond yields and oil prices keep pressure on markets.
- On Wednesday, the July consumer price index release serves as a critical test for the stock market rally, with economists expecting 0.1% headline inflation growth as investors assess the Federal Reserve's potential September rate path.
- Liz Thomas, head of investment strategy at SoFi, told CNBC's 'Closing Bell' on Tuesday that current market odds for a September rate hike are 50-50, as the Federal Reserve remains laser-focused on inflation's impact on consumers.
- Bond markets reflect fears of a restrictive interest rate regime, with the 10-year Treasury yield hovering around 4.7% and the 2-year yield around 4.2%, while U.S. oil prices push above $83 a barrel as hopes for reopening the Strait of Hormuz dwindle.
- CoreWeave shares surged 14% as second-quarter adjusted operating income margins of 5% exceeded expectations, and Super Micro Computer shares rallied more than 6% after issuing rosy guidance, providing a bright spot for investors.
- Thursday's July producer price index must prove the prior month's softer report can be repeated, as inflation metrics remain above the Fed's 2% target, ensuring the stock rally faces significant hurdles throughout this week.
25 Articles
25 Articles
Rutland Herald
Wall Street points to a higher open ahead of critical July inflation data
U.S. markets are pointing higher ahead the opening bell and before the release of key inflation data for July that could provide a better idea of where prices are heading. Futures for the S&P 500 gained 0.3% Wednesday and futures…
Wall St futures tick up heading into July inflation data
Aug 12 (Reuters) - U.S. stock index futures edged higher on Wednesday ahead of a key inflation report that could influence the Federal Reserve's monetary policy path, while upbeat earnings from some AI infrastructure companies offered support. July con...
Mixed trend in Europe • Corewave and Super Micro surge following the reports • Investors await the consumer price index to be published in the US this afternoon • An investor consortium, including Jeff Bezos, is approaching a deal to acquire a stake in the Liverpool club • Norway's sovereign wealth fund reported its best quarterly return in six years
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