Stocks Index Stable After U.S. Economic Data Show Inflation At 40 Years High Of 7%

U.S. stock futures were steady in overnight trading on Wednesday after the Nasdaq Composite rose for the third session despite raising consumer price index reports.

  • Dow Jones rose just 38.30 points or 0.11%
  • S&P 500 gained 0.28% or 13.28 points
  • Nasdaq 100 rose 0.23% or 34.94

The December consumer price index, a key inflation measure, increased 7%. On a monthly basis, CPI increased 0.5%. Economists expected the consumer price index to rise 0.4% in December, and 7% on a year-over-year basis

Data to watch today: The December producer price index, another measure of inflation, is then set to come out on Thursday morning.

For the week, the S&P 500 and Nasdaq are up 1.1% and 1.7%, respectively. The Dow is up slightly since Monday.