Stock market: Dow, S&P 500, Nasdaq futures rise ahead of critical inflation report
US stock futures saw modest gains as markets braced for the upcoming inflation report, following a volatile day on Wall Street driven by President Donald Trump's rapidly changing trade policies.
Futures attached to the tech-heavy Nasdaq Composite (NQ=F) and the benchmark S&P 500 (ES=F) fluttered 0.3%. Futures attached to the Dow Jones Industrial Average (YM=F) rose 0.2%, News.Az reports, citing foreign media.
On Tuesday, Trump forged ahead with his plans to impose broad tariffs, saying he does not foresee the US going into a recession, even as economic forecasts grow grim.
“I don’t see it at all. I think this country’s going to boom,” the president said at the White House.
The White House confirmed the next wave of tariffs would take effect as scheduled on Wednesday. Steel and aluminum imports from all countries will be slapped with 25% tariffs at midnight, a plan Trump set in motion in February.
Wall Street's focus on Wednesday will turn to February's Consumer Price Index (CPI) report, which is set to be released at 8:30 a.m. ET. The reading will provide an update on the state of inflation and the Federal Reserve's path to interest rate cuts at a vulnerable moment for markets.
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