Stock futures rise ahead of key inflation data

FAN Editor

U.S. equity futures were trading higher Wednesday morning ahead of the release of a key report on inflation.

The major futures indexes suggest a gain of 0.7% when trading begins on Wall Street.


The Bureau of Labor Statistics is expected to report that the consumer price index inched up 0.2% month-over-month in April, well below March’s 1.2% spike, which was the largest monthly increase in close to 17 years.

Inflation Graphic to illustrate rising inflation (iStock/Getty Images)

On a year-over-year basis, watch for prices to jump 8.1% in April. While that’s an eye-opening number, it’s down from a 4-decade high of 8.5% the prior month.


Oil traded higher Wednesday morning, resuming an upward move following a 9% drop over the previous two sessions.

U.S. West Texas Intermediate crude climbed $1.75, or 1.7%, to $101.53 a barrel.

Brent rose $1.81, or 1.8%, to $104.27 a barrel.

An oil rig drilling a well at sunrise near Midland, Texas.  (REUTERS/Ernest Scheyder  / Reuters Photos)

The Energy Information Administration will release its inventory report for last week. Crude stockpiles are expected to fall by almost half a million barrels, following a surprise build of 1.3 million barrels the previous week. 

New York Stock Exchange traders.  ((Courtney Crow/New York Stock Exchange via AP) / AP Newsroom)

A handful of companies are out with earnings results Wednesday morning, including Wendy’s and Krispy Kreme. Dow member Disney will be the afternoon highlight.

In Asia, Tokyo’s Nikkei 225 added 0.2%, Hong Kong’s Hang Seng rose 1.7% and China’s Shanghai Composite index climbed 1.5%.

Bitcoin traded around $31,000.

Shares of Coinbase Global took a drastic hit in after-hours trading after the company missed estimates for first-quarter revenue and posted a loss. Shares of the crypto exchange plunged 12.7% to $63.71 in extended trading.

Stocks ended mixed on Wall Street Tuesday after a rally in technology companies helped reverse most of an early slide.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 32160.74 -84.96 -0.26%
SP500 S&P 500 4001.05 +9.81 +0.25%
I:COMP NASDAQ COMPOSITE INDEX 11737.670959 +114.42 +0.98%

The S&P 500 wound up 0.2% higher at 4,001.05 after giving up most of an early gain of 1.9%. The Dow Jones Industrial Average fell 0.3% to 32,160.74.

The Nasdaq composite rose 1% to 11,737.67.

Big technology stocks, which have been swinging sharply both up and down recently, accounted for much of the S&P 500’s turnaround. Apple rose 2.2% and Microsoft rose 2.2%.


Gains in communication and health care stocks also helped lift the market, outweighing declines in financial, real estate and other sectors.

The yield on the 10-year Treasury fell to 2.96% from 3.08% late Monday.

The Associated Press contributed to this report.

Free America Network Articles

Leave a Reply

Next Post

DeSantis notches legal win in battle over law revoking Disney's special tax district

Franklin Graham, president of Samaritan’s Purse, argues Walt Disney built his empire on ‘moral, good entertainment’ and that the leadership today has ‘turned their back on what Disney stood for.’ A federal judge on Tuesday dismissed a lawsuit challenging Florida Gov. Ron DeSantis‘ law dissolving Disney World’s Reedy Creek Improvement […]