Stock futures trade higher ahead of key inflation report
Wednesday's consumer price index report is expected to rise 1.1% in June, keeping inflation at a 40-year high
Market expert predicts an 'epic' day for stocks next week
Carnivore Trading CEO Dutch Masters and Great Hill Capital chairman Thomas Hayes discuss if the Q2 earnings season will turn around the disastrous market on 'The Claman Countdown.'
U.S. equity futures were trading higher ahead of a highly anticipated report on inflation.
The major futures indexes suggest a gain of 0.3% when trading begins on Wall Street.
The consumer price index is expected to rise 1.1% month-over-month in June. That’s up from a 1.0% increase in May, but below a 1.2% spike in March.
On a year-over-year basis watch for prices to soar 8.8% in June, a new four-decade high and up from May’s annual gain of 8.6% which was the highest since December 1981. If you factor out volatile food and energy costs, core consumer prices are anticipated to rise 0.6% for the third consecutive month.
A cashier assists a customer at a checkout counter at Harmons Grocery store in Salt Lake City, Utah. (George Frey/Bloomberg / Getty Images)
INFLATION LIKELY HIT FEVER PITCH IN JUNE WITH CONSUMER PRICES SURGING AGAIN
Oil prices rebounded from Tuesday's plunge but stayed below $100 per barrel.
U.S. West Texas Intermediate crude traded at $96 a barrel. Brent crude futures were at $99 a barrel.
An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas, U.S., May 3, 2017. (REUTERS/Ernest Scheyder / Reuters Photos)
Prices fell by more than 7% on Tuesday amid volatile trading.
ENERGY EXPERT WARNS 'TIGHT' GLOBAL OIL MARKET IS 'GETTING WORSE'
Bitcoin traded below $20,000.
In Asia, Tokyo's Nikkei 225 added 0.5%, the Hang Seng in Hong Kong slipped 0.1% and China's Shanghai Composite Index gained 0.1%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
In Tuesday's session on Wall Street, the S&P 500 lost 0.9% to 3,818.80, declining for a third day. Technology, health care and energy stocks accounted for a big share of losses.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York. (REUTERS/Brendan McDermid / Reuters Photos)
The Dow Jones Industrial Average slid 0.6% to 30,981.33 and the Nasdaq composite slid 0.9% to 11,264.73.
PEPSICO WARNS SODA, SNACK PRICES MAY RISE
Big companies are due to report second-quarter results over the next few weeks.
The yield on the 10-year Treasury, or the difference between the market price and the payout at maturity, was steady at 2.95%.
The Associated Press contributed to this report.