U.S. equity futures showed a split tone Tuesday as investors positioned for the latest Consumer Price Index reading, a key data point for inflation expectations. The report is expected to shape market views after a sharp rebound in stocks during the prior session.
At 4:19 p.m. (Bangkok Time), contracts on the S&P 500 rose 0.02%, while Dow Jones Industrial Average futures advanced 167 points, or 0.32%. In contrast, Nasdaq-100 futures moved 0.3% lower.
The cautious premarket trading followed a strong Monday session for U.S. equities. The Dow jumped 1,104 points, or 2.15%, the S&P 500 climbed about 2.35%, and the Nasdaq Composite gained 2.74%. That recovery came after a volatile week, when investors weighed concerns that data center expansion could slow after major Democratic wins in the midterm elections.
Economists expect Tuesday’s CPI report to show softer price pressures. Forecasts call for overall inflation to increase 0.3% on a monthly basis, while core CPI, excluding food and energy, is projected to ease to 0.2%. In September, headline CPI rose 0.6%, and core prices increased 0.3%.
Nvidia shares were also in focus. Investors continued to assess a board investigation into Chief Executive Jensen Huang after reports alleging a relationship with a purported Chinese spy. The stock edged higher in premarket trading after losing more than 4% in Monday’s regular session.
Energy markets weakened, with Brent crude edged 2.27% lower to $90.47 a barrel, while U.S. benchmark West Texas Intermediate crude dipped 2.12% to $85.01.
Although most third-quarter earnings reports have already been released, Nvidia-backed CoreWeave, along with quantum computing names Quantum and Rigetti Computing, are scheduled to post results after Tuesday’s closing bell.
