U.S. stock index futures may be pointing toward a higher open, but they face a big test during today’s session with a key reading on inflation set to be released.
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The January reading on inflation, which will be particularly significant, will be released prior to the opening bell on Tuesday. This comes as the major U.S. stock indexes are set to open higher for the fourth day in a row, extending their recovery from the recent sell-off, which was caused by inflation concerns.
Economists surveyed by Reuters expect the Consumer Price Index will have increased by 0.3% in January, compared to the 0.2% in December.
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While inflation data will steal the show, there is other economic data on the docket, including January retail sales at 8:30 a.m. ET and a December reading on business inventories at 10 a.m. ET.
Meanwhile, as the markets have recovered from the recent sell-off, investors are becoming much less nervous, with the Cboe Volatility Index retreating to a one-week low.
