From Nasdaq:

On Tuesday, U.S. stock index futures rose ahead of an important inflation report that could impact expectations for Fed rate cuts. The recent market rally may be tested as investors await data on GDP, jobless claims, and manufacturing activity. This week also sees a Congressional standoff over government funding and Fed policymakers speaking out.

Traders are anticipating the release of January’s PCE price index on Thursday, the Fed’s preferred inflation measure. Recent data showing sticky inflation could delay rate cuts, with bets for a June rate cut dropping from 98% to 63%. Investors will closely follow reports on durable goods, consumer confidence, and comments from Fed officials.

Tech stocks performed well in premarket trading, with Tesla up 1.3%, Micron up 3.9%, and Zoom Video climbing 13.1% on strong quarterly results. Unity Software, however, slid 14.7% after forecasting lower revenue. Crypto-linked stocks like Coinbase, Marathon Digital, and Riot Platforms rose as bitcoin surged. Investors are closely watching the market for signs of further economic stability.



Read more at Nasdaq: US STOCK-Futures inch up ahead of economic data