US stock futures are little changed, hovering near the flatline as investors prepare for the release of December’s consumer price index, a key gauge of inflation. The Dow Jones Industrial Average rose 221.16 points, or 0.52%, in the regular session, while the S&P 500 added 0.11%. However, tech names were weighed down by a pullback.
The recent wholesale inflation report came in lighter than expected, with the producer price index adding just 0.2%, less than the consensus estimate of 0.4%. This has led investors to focus on December’s consumer price index reading, which is due out at 8:30 a.m. ET on Wednesday.
Economists polled by Dow Jones predict a 0.3% increase in headline CPI and a gain of 2.9% over the prior 12 months. The inflation report will be considered by the Federal Reserve as it makes its interest rate decision later this month.
The earnings season also kicks off this week, with major financial services companies such as BlackRock, JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup set to release their quarterly results before Wednesday’s opening bell. Some analysts expect strong earnings, citing a strong economy in the fourth quarter.
In other news, Elon Musk has been sued by the SEC for allegedly failing to properly disclose his Twitter ownership. The regulator claims that Musk violated securities law in 2022 by acquiring Twitter shares at artificially low prices, resulting in underpayment of at least $150 million.
Bank stocks have seen a rally, with investors awaiting earnings from companies in the sector this week. Large banks such as Goldman Sachs and JPMorgan Chase are set to release their quarterly results on Wednesday, while Bank of America and Morgan Stanley will follow on Thursday.
Source: https://www.cnbc.com/2025/01/14/stock-market-today-live-updates.html