S&P 500 futures are little changed as traders brace for crucial consumer inflation report: Live updates
Stock futures in the United States were mostly unchanged Monday night as investors waited for a key consumer inflation report.
S&P 500 futures
were slightly lower, and futures linked to the Standard & Poor’s 500 index were just a little lower.
were up 45 points. Nasdaq-100 futures added 0.2%.
On a regular trading day the Dow Industrials
gained 1,104 points, or 2.2%, while the S&P 500
popped about 2.4%. The Nasdaq Composite was up 2.7%. Monday’s rally came after a rocky week for markets, in which traders grew concerned of an impending slowdown in data center buildouts after Democrats posted big victories in the midterm elections.
The tech stocks rallied on Monday during regular trading, but Nvidia was left out.
The chipmaker fell 4% after Nvidia CEO Jensen Huang acknowledged on Sunday that he has been having an affair with a woman who U.S. intelligence officials, according to The New York Times, are believed to be a spy for China’s Ministry of State Security. Huang “has been the target of a foreign intelligence effort,” the company’s board of directors also said in a recent report, which led to an independent investigation by the company’s own board of directors.
The market received another boost from the decline in oil prices on Monday. The price of U.S. West Texas Intermediate futures fell over 4% and Brent crude futures declined by 3.76% on Monday.
slid more than 5%.
The October consumer price index report, expected the same day, will be a big factor for investors. Economists polled by Dow Jones see headline CPI growing at a rate of 0.3% and core CPI, which excludes volatile food and energy costs, rising 0.2% from the prior month.
This would be a retreat from September when the headline CPI was up 0.6% and the core CPI was up 0.3%.
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This is expected to be a return to the shelter price trends of the last few years, including slowing owners’ equivalent rents and easing of lodging away from home, and also a leveling of diesel prices that will help to quell price pressures across the energy-intensive goods group, wrote Christopher Hodge, chief economist at U.S. at Natixis CIB Americas.
The government shutdown in 2025 will not result in annual numbers for Tuesday’s report. At that time, the Bureau of Labor Statistics was unable to collect some data which means there isn’t a comparable figure for the index.