While Dow Jones futures were up 0.01% at the time of writing, the S&P 500 futures were down 0.1%.
U.S. stocks appear set for a cautious opening on Wednesday, amid a hotter-than-expected inflation print, which is causing tentativeness among investors, in addition to President Donald Trump’s ongoing tariff war.
According to data from the Bureau of Labor Statistics (BLS), the consumer price index (CPI) rose 0.3% in June on a seasonally adjusted basis, after a 0.1% rise in May.
Investors will keep an eye out for big bank earnings, following the release of JPMorgan Chase & Co., Wells Fargo & Co., and Citigroup Inc.’s results on Tuesday.
While Dow Jones futures were up 0.01% at the time of writing, the S&P 500 futures were down 0.1%, and the tech-heavy Nasdaq 100’s futures fell 0.24%. Futures of the Russell 2000 index rose 0.07%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was down 0.01% at the time of writing, while Invesco QQQ Trust (QQQ) declined 0.14% on Wednesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits has been in the ‘neutral’ territory over the past week.
Asian markets ended Wednesday’s trading session on a largely negative note, with the KOSPI leading with a decline of 0.91%, followed by the Hang Seng index at 0.3%, Nikkei 225 at 0.04%, and the Shanghai Composite at 0.03% decline, respectively.
The TWSE Capitalization Weighted Stock index closed the day with gains of 0.9%.
Stocks To Watch
- ASML Holding NV (ASML): The world’s largest supplier of semiconductor equipment saw its shares plummet over 7% in Wednesday’s pre-market trading session after ASML pulled its forecast for the next year because of geopolitical concerns and trade disputes due to President Trump’s tariff war.
- Bank of America Corp. (BAC): Bank of America’s shares gained nearly 1.5% pre-market after the lender posted $0.89 in earnings per share (EPS), beating Wall Street estimates of $0.86, according to Stocktwits data.
- Johnson & Johnson (JNJ): JNJ’s shares surged 1.5% pre-market as the company raised its full-year outlook after reporting EPS of $2.77, ahead of the estimated $2.68.
- Morgan Stanley (MS), Goldman Sachs Group Inc. (GS), United Airlines Holdings Inc. (UAL): Investors will be keeping an eye on these big banks and the airline, which are set to report their earnings on Wednesday.
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