S&P 500 Futures Rise as Traders Await Consumer Inflation Report

U.S. stock futures climbed early Tuesday as traders awaited a consumer inflation report.

S&P 500 futures added 0.23% in early trading.

Futures tied to the Dow Jones Industrial Average moved up 258 points, or 0.49%. Nasdaq-100 futures hovered just above the flatline.

Global markets showed strength overnight. South Korea’s Kospi surged 4.3% while Japan’s Nikkei 225 added 2.89%. Mainland China’s CSI 300 added 0.26% and Hong Kong’s Hang Seng Index rose 0.42%. Australia’s S&P/ASX 200 gained 1.27%.

The Bottom Line:

S&P 500 futures gained 0.23% early Tuesday ahead of the October consumer price index release.
Nvidia shares slid 4% after Jensen Huang admitted to an affair with a woman who U.S. intelligence officials say is a spy for China’s Ministry of State Security.
Economists surveyed by Dow Jones project headline CPI to increase by 0.3% and core CPI to go up 0.2% compared to the prior month.

Dow and S&P 500 Rise While Nvidia Shares Slide

During the regular U.S. trading day, the S&P 500 popped about 2.4% while the Dow Industrials gained 1,104 points, or 2.2%. The Nasdaq Composite rose 2.7%.

S&P 500 Futures Rise as Traders Await Consumer Inflation Report

Monday’s rally followed a rocky week for markets. Traders had grown concerned about a potential slowdown in data center buildouts after Democrats posted big victories in the midterm elections.

While the tech sector rebounded in Monday’s regular trading, Nvidia sat out the rally. Shares of the chipmaker slid 4% after Jensen Huang admitted on Sunday to having an affair with a woman who U.S. intelligence officials say is a spy for China’s Ministry of State Security, according to The New York Times.

Citing recent coverage indicating Huang has been the focus of foreign intelligence activities, the firm’s board of directors initiated an independent internal inquiry.

Oil prices fell on Monday, lending the market support. U.S. West Texas Intermediate futures settled down more than 4% while Brent crude futures slid more than 5%.

Consumer Price Index Awaited

Investors are awaiting the October consumer price index report due on Tuesday. Headline CPI is projected by Dow Jones-polled economists to advance at a 0.3% pace, with core CPI—leaving aside volatile food and energy costs—increasing 0.2% month over month.

Compared to September’s figures, when headline CPI rose 0.6% and core CPI climbed 0.3%, this would represent a slowing down.

We think the slowdown in core CPI will stem from a reversion of shelter prices, primarily owners’ equivalent rents and lodging away from home. Similarly, the stabilization in diesel prices should help to quell price pressures in energy-intensive goods, wrote Christopher Hodge, chief economist of the U.S. at Natixis CIB Americas.

Annual figures will not be provided for Tuesday’s report because of the 2025 government shutdown. At that time, the Bureau of Labor Statistics was unable to collect some data, meaning there is no comparable figure for the index.

Disclaimer: The information provided in this article is for educational and market analysis purposes only and does not constitute financial, investment, or legal advice. Always consult with a certified financial professional before making investment decisions.