U.S. stock futures moved higher ahead of Wednesday’s session as investor sentiment improved, helped by falling oil prices and hopes for easing inflation. Traders are also looking ahead to the upcoming Consumer Price Index (CPI) report, a key data release that could influence the Federal Reserve’s next interest-rate decision.
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Notably, West Texas Intermediate (WTI) crude slipped about 0.63% to around $87 per barrel, while Brent crude fell roughly 0.17% to about $83 per barrel.
In the regular trading session, major indexes ended mostly lower as investors tracked developments in the war with Iran. The S&P 500 and the Dow slipped 0.2% and 0.1%, respectively, while the Nasdaq inched slightly higher.
Investors are watching February’s CPI report after recent signs of a softer labor market. The report is expected to show headline inflation rising at a 2.4% year-over-year rate. Also, investors await earnings reports from Serve Robotics (SERV), UiPath (PATH), Stitch Fix (SFIX), and Bumble (BMBL).