Traders at work at the New York Stock Exchange on July 10, 2026.
new york stock exchange
Stock futures were little changed in overnight trading Tuesday after rising on weaker-than-expected inflation data.
Futures, which track the Dow Jones Industrial Average, were flat. S&P 500 futures and Nasdaq 100 futures also traded near flat lines.
Stocks rose on Tuesday as a weaker-than-expected inflation report fueled hopes that the Federal Reserve might not need to raise interest rates as aggressively as it has this year.
Asia-Pacific markets opened higher on Wednesday. Kospi The index rose 6.3%, while the small-cap Kosdaq rose 4%. Japan’s Nikkei Stock Average and TOPIX each rose 0.9%. australian benchmark S&P/ASX 200 It was 0.6% higher.
The consumer price index in June fell by 0.4% from the previous month, bringing the annual inflation rate to 3.5%. A Dow Jones survey of economists had predicted monthly inflation of 0.2% and annual inflation of 3.8%.
The report prompted traders to back off on near-term Fed tightening expectations. According to CME’s FedWatch tool, the central bank’s probability of raising interest rates at its July meeting is 17%, down from 42% the day before. But the market continues to price in rate hikes this year, with traders giving a 63% chance that rates will rise by a quarter or half a percentage point after the September meeting.
“While energy played a large role in the price slowdown, investors were relieved as the easing was fairly broad-based and spanned many categories,” Vital Knowledge founder Adam Crisafulli said in a note. “But the Fed and the economy are not in the clear. Inflation is still rising on an absolute basis, oil is back on an upward trend, and AI is proving to be highly inflationary at this point.”
Investors will focus on another busy earnings day Wednesday, with United Airlines, Morgan Stanley, Johnson & Johnson and BlackRock set to report quarterly results.
Earnings season is off to a good start. JPMorgan Chase & Co., Bank of America, Citigroup, Wells Fargo & Co. and Goldman Sachs all beat analysts’ expectations when they reported results on Tuesday.
