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Stock Futures Rise Following CPI Inflation Data

U.S. equity futures rose on Wednesday after inflation data from the previous day came in hotter than expected. January’s Consumer Price Index rose 3.1% on an annual basis, with a 0.3% increase from the previous month. This has lowered investors’ expectations for an interest rate cut by the Federal Reserve following its next policy meeting.

Futures listed on the S&P 500 rose by 0.2% during premarket trading in New York, while those on the Nasdaq 100 advanced by 0.4%. Contracts listed on the Dow Jones Industrial Average edged higher by 0.1%. In Europe, the Stoxx 600 gained 0.1% while the MSCI World index remained relatively stagnant.

The dollar remained steady after its gains in the previous session, with the Bloomberg Dollar Spot index remaining unchanged. The euro was also little changed at $1.0702, while the greenback strengthened against the pound, with the British currency slipping 0.3% to $1.2557.

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