Stock Futures Point Lower Ahead of CPI Inflation Data, Bank Earnings
Stock futures slipped Tuesday, a day after the S&P 500 and Dow Jones Industrial Average set fresh records, as investors awaited a consumer inflation reading and JPMorgan’s quarterly results.
Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures pointed 0.3%, 0.1%, and 0.1% lower, respectively. Yesterday, investors shook off news of a Justice Department probe into Federal Reserve Chair Jerome Powell, with the S&P 500 and Dow hitting fresh intraday and closing highs, and the tech-heavy Nasdaq also ending in the green.
A report on inflation at 8:30 a.m. ET Tuesday from the Bureau of Labor Statistics is likely to show the Consumer Price Index rose 2.7% year-over-year in December, the same annual rate as in November, , according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. Meanwhile, “core” prices, which exclude volatile food and energy prices, are expected to have risen 2.8% over 12 months, up from 2.6% in November.
If forecasts are on target, it would represent inflation pressures edging higher after unexpectedly decelerating in November. Inflation has run hotter than the Federal Reserve’s target of a 2% annual rate since 2021, and has been pushed up in recent months by President Donald Trump’s campaign of tariffs.
Investors also will be paying close attention to fiscal 2025 fourth-quarter results from JPMorgan Chase (JPM), which kick off bank earnings season. Despite positive results last quarter, JPMorgan CEO Jamie Dimon warned that the U.S. economy was facing a “heightened degree of uncertainty.”
Bank stocks slid yesterday after President Donald Trump over the weekend suggested capping credit card interest rates at 10%, but generally ticked higher in premarket trading.
Delta Air Lines (DAL) stock fell 5% before the bell after its fiscal 2026 profit forecast came in below expectations.
Gold futures, considered a haven during market turbulence, were down 0.4% to $4,595 an ounce after setting a record high of $4,640 an ounce Monday. Silver futures, which hit their own new all-time high of $86.34 an ounce yesterday, were up 0.6% to $85.60 an ounce.
West Texas Intermediate futures, the U.S. crude oil benchmark, rose 1.5% to $60.35 a barrel after President Trump said any country doing business with Iran would face a 25% U.S. tariff.
The 10-year Treasury yield, which influences interest rates on a variety of commercial and consumer loans, rose to 4.20% from Monday’s close above 4.18%.
Bitcoin was trading around $92,100, up from the day’s low of roughly $90,900. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, edged 0.1% higher to 98.97.
