US Stock Futures Hold Steady Ahead of July Inflation Report
U.S. stock index futures were little changed on Monday night, as traders braced for key inflation data that could influence the Federal Reserve’s near-term policy path.
By 8:14 p.m. ET (12:14 GMT), S&P 500 futures were up 0.1% at 6,422.75, Nasdaq 100 futures added 0.1% to 23,737.75, while Dow Jones futures hovered around 44,069.0, showing minimal movement.
Markets Await CPI Data
During Monday’s regular session, the S&P 500 slipped 0.3%, the Nasdaq Composite also fell 0.3%, and the Dow Jones Industrial Average closed 0.5% lower. Last week, the Nasdaq reached a new intraday record, while the S&P 500 ended just shy of a record closing high.
Attention now turns to Tuesday’s release of the July Consumer Price Index (CPI), which is expected to show a 0.2% monthly increase, while core CPI—excluding food and energy—is projected to rise 0.3%. Producer Price Index data will follow on Thursday, with retail sales figures and a consumer sentiment survey due Friday.
The recent soft jobs report for July, alongside downward revisions to May and June data, has strengthened expectations for a Fed rate cut in September. CME FedWatch data shows markets are pricing in an 88% probability of a cut.
Investors are also watching for any inflationary impact from tariffs, after the Trump administration raised import duties on several trading partners.
Trump Extends China Tariff Deadline
President Donald Trump signed an executive order extending the tariff truce with China by 90 days, pushing the deadline to November 9—one day before the previous August 12 cutoff.
Corporate Highlights
Shares of Sinclair Inc. (NASDAQ: SBGI) jumped over 28% in after-hours trading after the U.S. TV broadcaster said it was considering potential mergers or a spinoff of its ventures unit.
Chipmakers Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) were also in the spotlight following reports that both companies will pay the U.S. government 15% of profits from AI chip sales to China. Both stocks edged down 0.3% on Monday.
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