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Stock market today: Dow and S&P 500 futures muted ahead of CPI data, Nasdaq rises
Grace O’Donnell· Editor, Special Projects
Wed, August 12, 2026 at 2:45 PM GMT+5:30
2 min read
- ^GSPC
-0.32% - ^DJI
-0.34%
US stock futures were little changed in premarket trading on Wednesday as investors braced for fresh Consumer Price Index (CPI) data, which could alter the Fed’s interest rate calculus
Futures on the Dow Jones Industrial Average (YM=F) traded flat, while those on the S&P 500 (ES=F) edged up 0.2%. Contracts for the Nasdaq-100 (NQ=F) rose 0.6% in what is a relatively quiet week in markets beyond the tail end of earnings season
Wednesday’s inflation print will be closely watched following the softer-than-expected July jobs report. Economists expect the Consumer Price Index to rise at a slower annual rate of 3.4% in July compared to June’s 3.5% increase and climb 0.1% month over month
A hotter-than-expected print could strengthen the case for the Fed to raise rates in September, while signs of inflation easing further could give the Fed room to hold rates steady. As of Tuesday, traders were pricing in a roughly 50-50 chance of a rate hike in September
Inflation concerns have driven up global bond yields. In the US, the 30-year Treasury yield (^TYX) remained at 5.24%, while South Korea’s 30-year government bond yield climbed to a record
Ongoing tensions in the Middle East serve as the backdrop propping up inflation and yields as the US and Iran remain deadlocked in negotiations to reopen the Strait of Hormuz. The US enforced its blockade of the strait by firing on a Panama-flagged ship attempting to cross the Gulf of Oman on Tuesday, lifting Brent crude futures (BZ=F) close to $90 per barrel
On the earnings calendar, Cisco Systems (CSCO), Coherent Corp. (COHR), Nebius Group (NBIS), and Cerebras Systems (CBRS) are among the major companies reporting results
