Stock markets rose on Monday evening as investors awaited the first of two key inflation readings this week. The Dow Jones Industrial Average’s futures gained 58 points, or about 0.1%, while S&P 500 and Nasdaq 100 futures advanced 0.2% and 0.4%, respectively.
The market reaction came after the Nasdaq Composite slid for the fourth consecutive day in the regular session. Investors rotated out of tech stocks like Nvidia, which fell nearly 2%, and snapped up energy, healthcare, and materials sectors instead. The Dow rose almost 0.9% as traders bought Chevron and UnitedHealth.
On Tuesday, the producer price index (PPI) will be released at 8:30 a.m. ET, with economists predicting a 0.4% growth in headline PPI and a 0.3% rise in core PPI. The December PPI measure and the consumer price index report due on Wednesday are expected to impact interest rate policy.
Federal Reserve officials’ next move is also a key focus. Fed funds futures trading suggests a near-certainty that rates will remain steady at the current target range of 4.25%-4.5% in March, according to the CME FedWatch Tool. Analysts predict an 80% chance of rates staying within this range.
Banking stocks will kick off fourth-quarter earnings season on Wednesday, with JPMorgan Chase, Citigroup, Goldman Sachs, and Wells Fargo reporting results. This week’s inflation data will also inform investors’ expectations for future growth and recession risk.
Markets were influenced by last week’s blowout jobs report. Adam Turnquist, chief technical strategist at LPL Financial, noted that the market has shifted to a “good-news-is-bad-news” backdrop, but emphasized that long-term economic news is typically positive for equity markets.
Source: https://www.cnbc.com/2025/01/13/stock-market-today-live-updates.html