Futures Eke Higher Ahead of Inflation Report - InvestingChannel

Futures Eke Higher Ahead of Inflation Report

Stock futures ticked higher Tuesday after the S&P 500 and NASDAQ Composite each notched their highest close since April 2022. Wall Street also looked ahead to May’s consumer price index, out Tuesday.

Futures for the Dow Jones Industrials acquired seven points to 34,396.

Futures for the S&P 500 picked up four points, or 0.1%, to 4,392.

Futures for the NASDAQ Composite zoomed 30.5 points, or 0.2%, to 15,017.25.

Oracle shares jumped 4% in pre-market trading after topping Wall Street’s estimates for the fiscal fourth quarter. The company posted adjusted earnings of $1.67 per share on revenue of $13.84 billion.

Ahead of the rate decision slated for Wednesday, market attention turns toward May’s consumer price index report. Economists surveyed by Dow Jones expect inflation to show signs of easing, forecasting 0.1% month-over-month rise in prices, versus a 0.4% increase in April. On a yearly basis, economists expect a 4% jump.

In Japan, the Nikkei 225 gained 1.8% Tuesday, topping the 33,000-point mark for the first time in 33 years, while in Hong Kong, the Hang Seng index took on 0.6%.

Oil prices gained $1.28 to $68.40 U.S. a barrel.

Gold prices hiked $9.60 to $1,979.30. U.S. an ounce.

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