US pre-open: Futures slightly higher ahead of CPI reading
By Iain Gilbert
Date: Wednesday 15 Jan 2025
(Sharecast News) - Wall Street futures were slightly higher ahead of the bell on Wednesday as market participants patiently awaited the release of last month's consumer price index.
As of 1120 GMT, Dow Jones futures were up 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.14% and 0.20% firmer, respectively.
The Dow closed 221.16 points higher on Tuesday in what was a mixed session for major indices following the publication of December's cooler-than-expected producer price index.
After last month's PPI print rose by just 0.2% month-on-month, all eyes will now be on December's CPI reading at 1330 GMT, the Federal Reserve's inflation gauge, with economists expecting to see the headline figure increase 0.3% and 2.9% on a monthly and annualised basis, respectively.
Elsewhere on the macro front, weekly mortgage applications data will be out at 1200 GMT, while January's NY Empire State manufacturing index will follow at 1330 GMT and November business inventories numbers were slated for release at 1500 GMT.
In the corporate space, BlackRock, JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup were all scheduled to post results before the opening bell.
Reporting by Iain Gilbert at Sharecast.com
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