Business

Futures inch up ahead of inflation data

U.S. stock futures are pushing higher ahead of inflation data today that’s likely to be a sleeper for investors. Dow +0.3%; S&P 500 +0.2%; Nasdaq +0.1%.

The CPI is expected to come in at 0.2% M/M for both headline inflation and core, which excludes energy and food, or 2.2% and 1.9% Y/Y. A figure that misses or meets estimates is likely to reaffirm the case for just three rate hikes in 2018, but rising inflation could get the Fed to change its forecasts.

Oil is up 0.3% at $61.57/bbl, gold is 0.1% lower at $1319/ounce and the 10-year Treasury yield is up 1 bps to 2.88%.

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