Investors weigh inflation risks ahead of key producer price figures following hotter-than-expected CPI readings.
Dow Jones futures hover near 49,850 in early European trading, showing little change as markets await US Producer Price Index data. S&P 500 futures edge up 0.24% to 7,440, while Nasdaq 100 futures gain 0.71% toward 29,400.
Tuesday’s session saw mixed performance, with Dow futures rising 0.11% while the S&P 500 and Nasdaq Composite fell 0.16% and 0.71%, respectively. Technology shares led declines after April CPI rose 0.6% month-over-month, pushing annual inflation to 3.8%, its highest since May 2023. Core CPI also climbed 2.8% annually.
Inflation concerns persist amid geopolitical risks, including potential disruptions in the Strait of Hormuz, which could sustain elevated oil prices and reinforce expectations for prolonged high Fed rates.