U.S. stock futures ended the day little changed after the broader market rallied Tuesday on a surprisingly cool inflation report. Treasury yields fell and the Nasdaq rebounded to key price levels, while Goldman Sachs and CrowdStrike led after-hours gainers. Three major earnings reports from ASML, Morgan Stanley, and Johnson & Johnson are due early Wednesday.
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Dow Jones futures, S&P 500 futures, and Nasdaq futures were little changed after hours. The stock market rose Tuesday as the Nasdaq rebounded to key levels, while oil prices rose but pared gains and Treasury yields fell following a cooler-than-expected CPI inflation report. Goldman Sachs and CrowdStrike jumped in after-hours trading.
Why it matters
A weaker inflation reading supports the case for stable or lower interest rates, which can benefit equities. The Nasdaq's rebound to key technical levels signals renewed buying interest in the market, particularly in the wake of inflation data that came in cooler than anticipated.
What to watch
ASML, Morgan Stanley, and Johnson & Johnson report earnings early Wednesday, which could shape market direction at the open.
The stock market closed Tuesday with gains led by the Nasdaq, which rebounded to key technical support levels as investors digested a cooler-than-expected consumer price inflation report. The CPI reading came in below expectations, prompting Treasury yields to fall—a shift that typically benefits growth and technology stocks. Oil prices, which had risen during the session, pared some of those gains by the close. After-hours trading saw Goldman Sachs and CrowdStrike jump in value, suggesting strong earnings or positive guidance from those names. However, futures contracts for the Dow Jones, S&P 500, and Nasdaq showed little movement in after-hours trading, indicating that investors were in a holding pattern ahead of Wednesday morning's earnings reports. Three major companies—ASML, Morgan Stanley, and Johnson & Johnson—are scheduled to report earnings early Wednesday, and their results and forward guidance could set the market's tone for the rest of the week.
Markets closed Tuesday with modest gains driven by softer-than-expected inflation data, a signal that may ease pressure on the Federal Reserve to maintain higher interest rates for an extended period. The decline in Treasury yields reflects investor relief that price pressures are moderating. At the same time, Goldman Sachs and CrowdStrike's after-hours strength suggests selective strength in key sectors, though futures trading overnight remained subdued—a common pattern when investors await a fresh batch of corporate earnings and economic data. The three major reports due Wednesday morning from ASML, Morgan Stanley, and Johnson & Johnson will offer a more complete picture of corporate health and could reset the tone for equities as the trading week unfolds.
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