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HomeBreaking NewsWall Street futures inch up ahead of US inflation report

Wall Street futures inch up ahead of US inflation report

'Quick read' news summary

NEW YORK — Stocks are gaining ground in early trading on Wall Street, building on a strong start to the year ahead of this week’s highly anticipated update on inflation and corporate earnings reports. The S&P 500 rose 0.5% after the open Wednesday. The Dow Jones Industrial Average and the Nasdaq also rose. Technology stocks and retailers made solid gains. Bond yields were mixed and crude oil prices rose. Markets in Asia were mixed overnight and European markets gained ground. The next potentially market-moving event is Thursday’s consumer inflation report for December. Several big companies, including Bank of America and Delta Air Lines, are scheduled to report earnings on Friday.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Wall Street pointed modestly higher before the bell Wednesday as markets try to extend what’s been a strong start to the year after a mostly dreadful 2022.

Futures for the Dow Jones Industrial Average and futures for the S&P 500 each rose about 0.2%

U.S. markets have been boosted so far this year by hopes that cooling inflation and a slowing economy may convince the Federal Reserve to ease off its markets-shaking hikes to interest rates. Since early last year, the U.S. central bank has been raising rates at a furious pace to bring painful inflation under control. Such moves risk causing a recession and hurt investment prices.

The next big event for markets is Thursday’s update on consumer inflation for December. Economists expect the report to show price gains slowed further, to 6.5%

NEW YORK -- Stocks are gaining ground in early trading on Wall Street, building on a strong start to the year ahead of this week’s highly anticipated update on inflation and corporate earnings reports. Technology stocks and retailers made solid gains. Markets in Asia were mixed overnight and European markets gained ground.

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