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Stock market today: US futures tiptoe higher ahead of CPI, Fed double whammy

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Headline Inflation Notizia

Interest Rates,The Federal Reserve,US Stock Futures

Investors are braced for the latest snapshot of the state of inflation and the latest signal on the path of interest rates.

US stock futures trudged higher Wednesday before a significant day for the US economy that will provide the latest snapshot of the state of inflation and the latest signal on the path of interest rates. S&P 500 futures built on its 27th record close of the year, rising 0.1%. Futures on the tech-heavy Nasdaq 100 rose 0.2%, also pointing to gains after a record close for the index. Dow Jones Industrial Average futures gained 0.1%.

On a "core" basis, which strips out food and gas, prices in May are expected to have risen 3.5% over last year — a slight slowdown from April. Read more: How does the labor market affect inflation? Meanwhile, the Fed's decision is all but certain — the central bank is expected to keep rates at their current 23-year-high levels.

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