U.S. stock futures were steady Tuesday night as investors awaited another key inflation report. This comes after a hotter-than-expected consumer inflation report that snapped the record-setting streaks for the S&P 500 Index (SPX) and the Nasdaq. Futures on the Dow Jones Industrial Average (DJIA), the Nasdaq 100 (NDX), and the S&P 500 were down 0.17%, 0.06%, and 0.12%, respectively, at 8:45 p.m. EDT on May 12.
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Trade QQQ with leverageAt the time of writing, Brent crude (CM:BZ) rose 0.56% to about $107.17 per barrel, while WTI crude (CM:CL) gained 0.53% to around $101.61.
In the regular trading session, the S&P 500 and the Nasdaq slipped from recent highs after April core inflation came in hotter-than-expected. The Nasdaq and the S&P 500 fell 0.7% and 0.2%, respectively, while the Dow inched up 0.1%.
Stocks fell as technology shares declined and oil prices moved higher. Markets also reacted after President Donald Trump criticized the month-old U.S.-Iran ceasefire and rejected Iran’s latest proposal to end the conflict. Meanwhile, investors assessed a hotter-than-expected April inflation report, which showed consumer prices rising at their fastest pace in about three years.
Looking ahead, Alibaba (BABA), Nebius (NBIS), BioNano Genomics (BNGO), and Cisco (CSCO) are set to report earnings on Wednesday. Traders will also watch for some key economic reports, including the producer price index (PPI).