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LivestreamMenuTraders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Aug. 5, 2026. Jeenah Moon | Reuters
U.S. stock futures were little changed Tuesday night, as traders looked ahead to an important inflation report that will likely determine the near-term direction for interest rates.
Dow Jones Industrial Average futures rose by 26 points, or 0.05%. S&P 500 futures and Nasdaq 100 futures climbed 0.1% and 0.09%, respectively.
Super Micro Computer shares rallied more than 6% after the data center infrastructure company issued rosy guidance for first quarter earnings and revenue. CoreWeave shares surged 14% after second quarter adjusted operating income margin of 5% exceeded expectations.
Those moves come ahead of the latest inflation data that investors are hoping will be as encouraging as the last. The July consumer price index that’s due out at 8:30 a.m. ET on Wednesday is expected to show only a slight increase in monthly inflation, of 0.1% in the headline number and 0.2% for the core reading, according to economists polled by Dow Jones. However, the estimated 12-month rates of 3.4% and 2.5%, respectively, remain above the Fed’s 2% target.
A surprisingly hot inflation report will likely alarm investors who expect it will shape what the Federal Reserve does at its September meeting, as policymakers take a reprieve in August. The central bank has been laser focused on the impact higher pricing pressures are having on the U.S. consumer, with three dissenters at the last meeting voting to raise rates. And, those concerns have yet to abate, with U.S. oil prices pushing above $83 a barrel this week, as hopes of a reopening of the Strait of Hormuz dwindle.
“All the Fed seems to be focused on is inflation, which means that tomorrow’s report is very important, especially because right now the odds for a September hike are 50-50,” Liz Thomas, head of investment strategy at at SoFi, told CNBC’s “Closing Bell” on Tuesday. “Tomorrow pushes that in one direction or the other, and that gets baked in.”
The bond market will also be carefully watched in the aftermath of the report, especially with long- and short-dated issues — the 10-year Treasury yield hovering around 4.7% and the 2-year yield around 4.2% — already reflecting fears of a more restrictive interest rate regime.
Wednesday’s inflation report won’t be the last hurdle the stock market will have to get past this week. The July producer price index that’s due out Thursday will have to prove the prior month’s softer report can be repeated.
1 Min Ago
An inflation report Wednesday should be a big deal for the Fed
An important inflation report Wednesday could give the Federal Reserve a little breathing room in its battle against inflation.
The consumer price index, due at 8:30 a.m. ET from the Bureau of Labor Statistics, is expected to show only a modest increase for July — 0.1% on the all-items headline number and 0.2% for the all-important core reading that excludes volatile food and energy prices, according to the Dow Jones consensus. On an annual basis, they are expected to show 3.4% and 2.5% respectively, both down 0.1 percentage point from June.
While that will still keep annual inflation rates well above the Fed’s 2% goal, two straight muted monthly readings could help buy Federal Open Market Committee policymakers a little time before making a move on interest rates.
— Jeff Cox
55 Min Ago
Stocks making the biggest moves after hours
Check out the companies making headlines after hours.
Super Micro Computer — The data center infrastructure stock rallied more than 6% after Super Micro Computer issued rosy guidance for first quarter earnings and revenue, in addition to exceeding fourth quarter estimates. The company expects adjusted earnings in the range of $1.01 to $1.10 per share, far above the LSEG consensus estimate of 76 cents. Revenue guidance in the range of $14.5 billion to $15.5 billion also topped the anticipated $11.68 billion.
CoreWeave — The artificial intelligence cloud company saw shares gain about 14%. Second quarter adjusted operating income margin came in at 5% compared to the StreetAccount consensus estimate of 2.7%. Revenue of $2.58 billion was up 112% from the year-ago period, and it came in ahead of the $2.56 billion expected, per the LSEG consensus estimate.
— Sarah Min
1 Hour Ago
Stock futures open little changed
Stock futures opened little changed Tuesday night.
Dow Jones Industrial Average futures rose by 25 points, or 0.05%. S&P 500 futures and Nasdaq 100 futures climbed 0.09% and 0.08%, respectively.
— Sarah Min
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