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Stock market today: US futures in holding pattern in wait for CPI

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Federal Reserve News

Holding Pattern,Inflation Report,Interest Rates

Investors are biding their time until the key March CPI inflation report lands as they wrestle with uncertainty around interest rates.

US stocks were stuck in a holding pattern on Tuesday as investors bided their time until a key inflation report lands and potentially sheds light on the path of interest rates. Futures tied to the Dow Jones Industrial Average , the S&P 500 , and the tech-heavy Nasdaq 100 were all trading just below the flatline.

That's intensified the focus on the CPI print for March, with any sign that inflation has begun to cool again seen as an invitation to a June policy shift. Meanwhile, fading rate-cut hopes have helped push up the 10-year Treasury yield near five-month highs — another potential headwind for stocks, with the 5% level seen as the key point of concern. The benchmark yield slipped on Tuesday to about 4.4%.

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