U.S. stock futures were inching higher on Wednesday, but the market remained on edge ahead of monthly consumer price inflation data and quarterly results from several big Wall Street banks that could set the tone for the fourth-quarter earnings season.
The Bureau of Labor Statistics is slated to release the December CPI report at 8.30 a.m. Eastern Time. Economists expect inflation to have ticked up to 2.8%, per data from FactSet, marking another month without progress toward the Federal Reserve’s 2% target.
“US disinflation has plateaued, and this is worrying for investors… If we get an upside surprise in today’s CPI report, then it could boost fears that rising inflation will wreak havoc on markets in 2025,” Kathleen Brooks, research director for the online broker XTB, said.
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