From Nasdaq Listing Center:

Stock futures are declining as Wall Street prepares for the release of the consumer price inflation report for January. Certain factors, such as overbought levels and the Federal Reserve’s rate trajectory, can influence the market. Fund manager Louis Navellier expects benign inflation numbers, particularly in relation to shelter costs, as key indicators to watch.

Monday’s trading saw U.S. stocks closing mixed as traders dealt with overbought levels and uncertainty prior to the inflation report. Technological and energy stocks saw divergent performances. Pre-market trading on Tuesday saw the S&P 500 ETF Trust slipping by 0.40% to $499 and the Invesco QQQ ETF pulling back by 0.60% to $432.72, according to Benzinga Pro data.

The market experienced mixed trading ahead of the release of the consumer price inflation report for January. Economists expect the inflation rate to have slowed down in comparison to December’s levels. Specific companies such as ZoomInfo Technologies Inc., Arista Networks, Inc., and Teradata Corporation moved significantly as a result of their earnings reports.

Global markets show variability as crude oil futures rise, the 10-year Treasury note edges up, and Asian stocks display indecision ahead of key economic data from the United States. European markets also trade moderately lower by late-morning trading on Tuesday.



Read more: Nasdaq, S&P 500 Set For Weaker Open As Traders Keep Eyes Peeled On Inflation Data: Analyst Flags Key CPI Report Item To Watch