U.S. stock futures were broadly higher early Tuesday as investors braced for the release of the October consumer price index (CPI) report. The S&P 500 futures contract added 0.23%, while Dow Jones Industrial Average futures rose 258 points, or 0.49%. Nasdaq‑100 futures were essentially flat, hovering just above the zero‑change line.
Futures and Asian market moves
Across Asia, equity benchmarks posted solid gains. South Korea’s Kospi surged 4.3%, Japan’s Nikkei 225 climbed 2.89%, Hong Kong’s Hang Seng Index rose 0.42%, and mainland China’s CSI 300 added 0.26%. Australia’s S&P/ASX 200 also posted a notable increase of 1.27%.
U.S. equities and sector reactions
When the regular U.S. trading session opened, the Dow Industrials jumped 1,104 points, a 2.2% gain, and the S&P 500 rose roughly 2.4%. The Nasdaq Composite posted the strongest move, up 2.7%. The rally followed a volatile week that saw market participants worry about a potential slowdown in data‑center construction after Democrats secured large victories in the midterm elections.
Despite the broad market advance, the technology sector showed mixed signals. Nvidia, a major driver of recent tech gains, lagged behind the rally. The chipmaker’s shares slipped 4% after chief executive Jensen Huang disclosed on Sunday that he had an affair with a woman whom U.S. intelligence officials, as reported by The New York Times, identified as a spy for China’s Ministry of State Security. In response, Nvidia’s board launched an independent internal investigation, citing reports that Huang “has been the target of a foreign intelligence effort.”
Commodity markets also provided support to equities. U.S. West Texas Intermediate crude futures settled more than 4% lower, and Brent crude futures fell over 5% on Monday, easing inflation concerns tied to energy prices.
Inflation data expectations and commentary
Investors focused on the upcoming CPI release, scheduled for Tuesday. Economists surveyed by Dow Jones anticipate headline CPI to increase 0.3% month‑over‑month, with core CPI—excluding food and energy—rising 0.2%. Both figures would represent a slowdown from September’s readings, when headline CPI grew 0.6% and core CPI advanced 0.3%.
Christopher Hodge, chief economist for Natixis CIB Americas in the United States, explained the expected moderation: “We think the slowdown in core CPI will stem from a reversion of shelter prices, primarily owners’ equivalent rents and lodging away from home. Similarly, the stabilization in diesel prices should help to quell price pressures in energy‑intensive goods.”
The Bureau of Labor Statistics will not publish annual CPI figures for Tuesday’s report because of a 2025 government shutdown that prevented the collection of certain data, leaving no comparable annual figure for the index.
Overall, the market’s tentative optimism reflects a blend of positive equity momentum in Asia and the United States, tempered by corporate governance concerns at Nvidia and the looming CPI numbers that could shape monetary policy expectations.
Mitchell Landsberg is a Senior Technology Correspondent at News Raise. He covers consumer electronics, artificial intelligence, software developments, and digital privacy trends.
