Traders work on the floor of the New York Stock Exchange on Jan. 10, 2025 in New York City.
NYSE
Stock futures rose slightly on Wednesday as traders awaited the release of December’s consumer price index, a key gauge of inflation.
Futures tied to the Dow Jones Industrial Average rose 71 points, or 0.2%. S&P 500 futures were 0.1% higher, and Nasdaq 100 futures climbed 0.2%.
The December consumer price index report is set for release at 8:30 a.m. ET.
Economists polled by Dow Jones see headline CPI rising 0.3% on a monthly basis and gaining 2.9% over the prior 12 months. The inflation reading will be a consideration for the Federal Reserve as it makes its interest rate decision later this month.
The report comes a day after the government unveiled lighter-than-expected wholesale inflation figures. Stocks posted slight gains on the back of that data on Tuesday.
Fourth-quarter earnings season also kicks off in earnest this week, with a slew of big financial services companies due to report their earnings. JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup will post results before Wednesday’s opening bell.
“We do think earnings will be stronger,” said Jay Hatfield, founder of Infrastructure Capital Advisors. “The economy is strong in the fourth quarter. Usually, companies learn if they have a problem by then, and they’re probably going to be pretty optimistic about the future because the Trump administration is pro-business. So we think that most CEOs are pretty optimistic about the forecast for 2025.”
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