Stock Market Today: S&P 500, Dow,Nasdaq 100 Futures Gain as July CPI Comes In-Line With Expectations—CoreWeave, Nebius, Super Micro, Lumentum in Focus (UPDATED)

Key takeaways

• U.S. stock market futures rose on Wednesday, with the Dow Jones, Nasdaq 100, and S&P 500 indices increasing after Tuesday's lower close.
• Dow Jones: -0.34% to 53,791.85
• S&P 500: -0.32% to 7,728.20
• Nasdaq Composite: -0.60% to 26,445.44

What happened

U.S. stock market futures rose on Wednesday, with the Dow Jones, Nasdaq 100, and S&P 500 indices increasing after Tuesday's lower close. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ) were higher in premarket trading. CoreWeave, Nebius, Super Micro, and Lumentum were in focus.

Why it matters

The market's reaction to the July CPI print and upcoming economic data will be crucial in determining the Federal Reserve's policy framework. Analysts expect high interest rates to remain a headwind, and the central issue remains the actual cost of capital. The Fed's path toward monetary easing is complicated by…

Short-term and longer-term

Short-term. Over the next day or two, watch the interest rate on government loans, the dollar, and which kinds of companies lead after the number comes out.

Longer-term. The market's sensitivity to incoming inflation data, Federal Reserve communication, and changes in global capital costs will remain high.