U.S. stock futures fell on Tuesday, moving away from recent highs as investors focused on important inflation updates that could change the needle on interest rate cuts.
S&P 500 (^GSPC) futures fell 0.4% as the index slumped as it tried to hold on to historic gains above 5,000 on Monday. Futures prices for the Dow Jones Industrial Average (^DJI) fell by 0.1%, losing momentum from the high close, while futures prices for the tech-heavy Nasdaq 100 Index (^NDX) fell by 0.6%, falling. slowed the pace.
Investors will get their first look at inflation in 2024 when January's consumer price index is released on Tuesday. The CPI report, a key data input for Federal Reserve policymaking, is expected to show headline inflation has fallen below 3% for the first time since March 2021.
A weaker-than-expected performance could reignite optimism for early interest rate cuts this year, even as a parade of Fed officials stressed that policy shifts require real confidence that inflation is cooling. There is sex.
read more: Impact of Fed interest rate decisions on bank accounts, CDs, loans, and credit cards
The next wave of corporate results is also expected, with a better-than-expected earnings season ahead. Investors are eyeing signs of the 'Magnificent Seven' expanding beyond earnings estimates to drive market gains, with Coca-Cola (KO), Shopify (SHOP) and Airbnb among others (ABNB) is attracting attention.
In other markets, Bitcoin (BTC-USD) price hovered around $50,000 after the major cryptocurrency reached closely watched levels for the first time since 2021, in what is seen as a notable comeback. .
