Wall Street’s pre-market mood is cautiously optimistic, but S&P 500 futures climbed 0.2% ahead of the opening bell, with Nasdaq-100 futures pulling their weight thanks to resilience in technology shares. Oil prices slipped lower.
That is when the Bureau of Labor Statistics releases July’s Consumer Price Index reading at 8:30 a.m. ET on August 12. One number, one release window, and enough potential market-moving power to rewrite the Federal Reserve’s September playbook.
Where things stand going into the print
The Fed held its benchmark federal funds rate steady at 3.5% to 3.75% at its July meeting, but the vote was not exactly a show of unity. Three members dissented, each pushing for a 25 basis point increase.
Markets are now pricing in a 44% probability of a September rate hike.
