United States stock futures edged lower on Tuesday evening (Wednesday AEST), as investors braced for another wave of corporate earnings and a fresh inflation reading that could influence the Federal Reserve’s policy stance.
By 9:50 am AEST (11:50 pm GMT) Dow futures, S&P 500 futures, and Nasdaq 100 futures fell 0.2% apiece.
In after-hours deals, Hancock Whitney fell 3.2% after posting second-quarter adjusted earnings of $1.32 per share, slightly below the $1.36 expected.
Omnicom Group eased 0.4% after reporting second-quarter earnings per share of $2.05 on revenue of $4.02 billion, topping analyst expectations of $2.02 and $3.98 billion, respectively.
Global Payments jumped 5.7% following reports that activist investor Elliott Management had increased its stake in the fintech firm.
The downward move followed a mixed day on Wall Street. The Dow added 1%, the S&P 500 declined 0.4%, while the Nasdaq Composite rose 0.2% to notch a record close, buoyed by a 4% gain in NVIDIA.
June’s consumer price index (CPI) weighed on markets earlier in the day. The report showed a 0.3% monthly increase, with an annual rise of 2.7%, in line with expectations but a reminder that inflation remains above the Federal Reserve’s 2% target.
Investors are increasingly wary of the broader impact of President Donald Trump’s latest tariff announcement, with 30% duties on imports from Mexico and the European Union set to begin on 1 August.
Traders are now awaiting the release of the June producer price index (PPI), expected Wednesday. Markets are expecting a 0.2% monthly rise in wholesale prices.
Additionally, comments from Federal Reserve officials, including Richmond Fed President Thomas Barkin and Fed Governor Michael Barr, will be closely watched for any clues on the future path of interest rates.
Earnings will also be in focus. Bank of America, Goldman Sachs, and Morgan Stanley are all scheduled to report before the opening bell, alongside healthcare giant Johnson & Johnson.
