Stock Market Update
12-Aug-25 09:12 ET
Futures point to higher open following July CPI
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +153.00.
The stock market is on track for a modestly higher opening following this morning's release of the July CPI.
Total CPI increased 0.2% month-over-month, as expected. Core CPI, which excludes food and energy, rose 0.3% month-over-month, also as expected. Those readings left CPI up 2.7% year-over-year, unchanged from June, and core CPI up 3.1% year-over-year, up from 2.9% in June.
The key takeaway from the report lurks in the details. The headline readings look good, yet there are enough component indexes exhibiting tariff-induced inflation pressures (i.e., large month-over-month changes) that one can't walk away with an "all-clear" inflation signal from this report. It seems doubtful that all Fed officials will, given the 3.1% year-over-year reading for core CPI.
