Stock futures for S&P 500 and Nasdaq are up ahead of consumer prices data release

From Nasdaq:

S&P 500 and Nasdaq futures are slightly up ahead of U.S. consumer prices data release. Analysts expect a 0.4% increase in the consumer price index for last month and a 3.1% increase over the past 12 months. Market rally slowed due to strong economic data, pushing back Fed rate cut expectations to June.

Traders anticipate a 72% chance of the first rate cut hitting in June. Dow e-minis down 0.03%, S&P 500 e-minis up 0.2%, Nasdaq 100 e-minis up 0.38%. Megacap growth firms like Nvidia and Oracle are up in premarket trading. Chipmakers like Intel and AMD show slight gains.

Boeing drops 1.2% after FAA audit finds issues in 737 MAX production. New York Community Bancorp rises 3.4% after closing $1 billion capital infusion deal and announcing stock split. Stock market awaits consumer prices data to anticipate future Fed rate cuts and economic trends.



Read more at Nasdaq: US STOCKS-S&P 500, Nasdaq futures edge higher ahead of key inflation test