Stock Market Update
12-Aug-26 09:10 ET
Futures point to higher open after July CPI
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +29.00. Nasdaq futures vs fair value: +292.00.
Equity futures point to a higher open after the release of the July Consumer Price Index.
Total CPI was up 0.1% month-over-month (Briefing.com consensus: 0.1%) following a 0.4% decline in June. That left the year-over-year rate at 3.4%, down from 3.5% in June. Core CPI, which excludes food and energy, was up 0.2% month-over-month (Briefing.com consensus: 0.2%) following an unchanged reading for June. On a year-over-year basis, core CPI was up 2.5% versus 2.6% in June.
The July CPI report, at the least, did not stoke new concerns that the Fed will have to raise rates at the September FOMC meeting. That is the key takeaway from the report, and it was embedded in the realization that this report came in as expected.
