U.S. stock futures edged higher Tuesday ahead of the latest reading on inflation, as traders await the latest verdict on how supply-side disruptions are...
U.S. stock futures edged higher Tuesday ahead of the latest reading on inflation, as traders await the latest verdict on how supply-side disruptions are impacting prices.
What’s happening On Monday, the Dow DJIA, +0.76% jumped 262 points, or 0.8%, to end at 34869, ending a five-session losing run. The S&P 500 SPX, +0.23% rose 10 points, or 0.2%, to 4468, while the Nasdaq Composite COMP, -0.07% slipped 10 points, or 0.1%, to 15105. What’s driving markets Traders await the latest consumer price data, due from the Labor Department, at 8:30 a.m. Eastern. Economists polled by The Wall Street Journal expect a 0.4% rise in August, and a 0.3% increase in core CPI.
Economists at TD Securities led by Jim O’Sullivan, a multiple winner of MarketWatch’s Forecaster of the Year competition, also expect a 0.4% increase in CPI, but a 0.2% rise in core prices. “Used vehicle prices, which have been surging, likely declined. Other travel items probably slowed as well,” the TD Securities economists said in a note to clients.
If they’re correct, that would be the slowest rise in the core reading since February. Core prices are closely scrutinized by central bankers because they more closely correlate with future inflation than the headline number.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury yields rise ahead of inflation dataU.S. Treasury yields rose early on Tuesday, ahead of the release of closely watched inflation data later in the morning.
Read more »
European markets set for tepid open as investors await U.S. inflation dataEuropean markets are heading for a muted open on Tuesday as global investors await inflation data from the U.S.
Read more »
‘A lot of buyers have had enough’: Bidding wars for homes falls to lowest level since 2020Redfin found that 58.8% of the offers on homes faced competition in August. That’s down from 62.1% the month prior and a peak of 74.3% reached back in April. It represents the lowest level of competition for homes since December.
Read more »
How COVID variants arise as Mu variant detected in all 50 statesVirus sequencing data shows that a Mu case was reported in Nebraska recently, meaning the variant has now been detected all across the U.S.
Read more »
Dollar finds footing as traders await inflation dataThe dollar began a week full of big economic data on a firm footing, with investors wary of the Federal Reserve beginning its exit from super-supportive policy even as cases of the coronavirus surge.
Read more »