Global Markets:
- Asian Stock Markets : Nikkei up 0.53%, Shanghai Composite up 0.32% Hang Seng down 1.13% ASX down 0.69%
- Commodities : Gold at $4,462.50 (0.48%) Silver at $65.565 (0.97%), Brent Oil at 90.02 (1.25%), WTI Oil at 84.30 (1.32%)
- Rates : US 10-year yield at 4.686, UK 10-year yield at 4.9653, Germany 10-year yield at 3.1570
News & Data:
- (USD) Existing Home Sales
- 4.06M to 4.05M expected
Markets Update:
U.S. stock futures were little changed Tuesday night as investors looked ahead to a key inflation report that could influence the Federal Reserve’s interest-rate decision in September.
Dow Jones Industrial Average futures rose 22 points, or 0.04%, while S&P 500 and Nasdaq 100 futures gained 0.07% and 0.08%, respectively.
Asian markets were mixed. South Korea’s Kospi jumped more than 3%, Japan’s Nikkei 225 gained 0.16%, and Australia’s S&P/ASX 200 fell 0.58%. Hong Kong’s Hang Seng Index declined 0.98%, while China’s CSI 300 advanced 0.28%.
In U.S. trading, Super Micro Computer shares rallied more than 7% after the data center infrastructure company issued upbeat first-quarter guidance. CoreWeave surged 14% after reporting a second-quarter adjusted operating margin that exceeded expectations.
Investors are now focused on Wednesday’s July consumer price index report. Economists expect monthly headline inflation to rise 0.1% and core inflation to increase 0.2%. On an annual basis, inflation is expected at 3.4% and 2.5%, respectively, both above the Fed’s 2% target.
A hotter-than-expected report could strengthen expectations for higher rates, while a softer reading could support stocks. Oil prices above $83 a barrel are adding to inflation concerns.
Bond yields will also be watched, with the 10-year Treasury near 4.7% and the two-year yield around 4.2%.
Thursday’s producer price index and earnings from Cerebras and Cisco will provide market catalysts.
Upcoming Events:
- 12:30 PM GMT – USD Core CPI m/m
