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Stock futures trade higher ahead of key inflation report

U.S. equity futures were trading higher ahead of a highly anticipated report on inflation.

The major futures indexes suggest a gain of 0.3% when trading begins on Wall Street.

The consumer price index is expected to rise 1.1% month-over-month in June. That’s up from a 1.0% increase in May, but below a 1.2% spike in March. 

On a year-over-year basis watch for prices to soar 8.8% in June, a new four-decade high and up from May’s annual gain of 8.6% which was the highest since December 1981.  If you factor out volatile food and energy costs, core consumer prices are anticipated to rise 0.6% for the third consecutive month. 

Oil prices rebounded from Tuesday’s plunge but stayed below $100 per barrel.

U.S. West Texas Intermediate crude traded at $96 a barrel. Brent crude futures were at $99 a barrel.

Prices fell by more than 7% on Tuesday amid volatile trading.

Bitcoin traded below $20,000.

In Asia, Tokyo’s Nikkei 225 added 0.5%, the Hang Seng in Hong Kong slipped 0.1% and China’s Shanghai Composite Index gained 0.1%.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES30981.33-192.51-0.62%
SP500S&P 5003818.8-35.63-0.92%
I:COMPNASDAQ COMPOSITE INDEX11264.727938-107.87-0.95%

In Tuesday’s session on Wall Street, the S&P 500 lost 0.9% to 3,818.80, declining for the third day. Technology, health care, and energy stocks accounted for a big share of losses.

The Dow Jones Industrial Average slid 0.6% to 30,981.33 and the Nasdaq composite slid 0.9% to 11,264.73.


Big companies are due to report second-quarter results over the next few weeks.

The yield on the 10-year Treasury, or the difference between the market price and the payout at maturity, was steady at 2.95%. 

Souece By: Foxbusiness