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U.S. stock futures mixed as market shrugs off inflation report

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U.S. stock futures were mixed Wednesday night after the market shrugged off the July inflation report and the Dow and S&P 500 hit records.

In the regular trading session, the Dow gained 0.6% to reach 35,484.97 and close at a new record. The S&P 500 rose 0.2% to an all-time high of 4,447.70. The Nasdaq Composite traded about 0.1% lower to 14,765.13.

Core inflation, however, rose by just 0.3% in July . Core inflation excludes energy and food prices and is considered a more reliable measure by economists since energy and food prices can be so volatile. Treasury yields dipped after the inflation report and a 10-year note auction showed strong demand. Dallas Fed President Robert Kaplan"The inflation story is more about isolated components, rather than general increases in prices, and even those components are showing signs of peaking," McMillan said. "As we dig into the numbers, inflation is above where it has been but is showing signs of rolling over and returning to more comfortable levels.

 

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