Analysts at Goldman Sachs and JPMorgan project CPI to edge up to 2.8% on an annual basis, up from 2.7% in June.
Stocks were on track for a subdued open on Tuesday as investors awaited key inflation figures to gauge the Fed’s policy direction.
Analysts at Goldman Sachs and JPMorgan project CPI to edge up to 2.8% on an annual basis, up from 2.7% in June. The former expects core inflation, which excludes food and energy, to rise to 3.08%, from 2.9% in June. Meanwhile, JPMorgan expects core inflation to reach 3.1%.
Futures linked to the Dow Jones Industrial Average index traded flat at the time of writing. Meanwhile, S&P 500 futures and the tech-heavy Nasdaq 100’s futures fell 0.06%. Futures of the Russell 2000 index were up 0.08%.
The SPDR S&P 500 ETF (SPY) slipped 0.05% in pre-market trade, while Invesco QQQ Trust (QQQ) dropped 0.04% on Monday morning. Retail sentiment around the S&P 500 ETF and QQQ on Stocktwits was in the ‘neutral’ territory.
Asian markets ended Monday’s trading session on a mixed note, with the Nikkei 225 leading with gains of 2.15%, followed by the Shanghai Composite at 0.5%, and the TWSE Capitalization Weighted Stock index at 0.1%
The Hang Seng index gained 0.25%, while the KOSPI fell 0.53%.
Stocks To Watch
Intel (INTC): The stock rallied as much as 2.5% in pre-market trade after President Donald Trump hailed his meeting with CEO Lip-Bu Tan as “very interesting,” after calling for his resignation last week.
CoreWeave (CRWV): The Nvidia-backed company’s shares dropped nearly 3% in early morning trade ahead of its latest earnings report after the closing bell on Tuesday.
Circle Internet (CRCL): The company behind the USDC gained as much as 8.2% in pre-market trade despite posting a loss of $482 million as Wall Street cheered the growth of its stablecoin network.
Celanese (CE): Shares of the company dropped more than 15% in pre-market trade after the company said it expects demand to weaken in most of its important markets and forecast lower profit for this quarter than analysts were banking on.
On Holding AG (ONON): Shares of the Roger Federer-backed company surged by 10% in early morning trade after the company raised its annual forecast and beat Wall Street estimates in its second-quarter results.
Read also: Ethereum Leads Gains After Record $1B ETF Inflows – Bitcoin, Altcoins Slide Ahead Of Inflation Data
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