US stock futures mixed as investors await key inflation report
July's consumer price index is expected to rise an annual 2.8% from June's 2.7%, according to a Reuters poll of economists. Investors will be watching to see whether President Donald Trump's tariffs on imports are translating into higher prices. The June CPI report suggested tariffs were boosting the prices of some goods.
July inflation data could help determine whether the Federal Reserve will lower interest rates soon.
After weaker-than-expected monthly jobs growth, the markets aggressively priced in rate cuts. The CME FedWatch tool that tracks the odds the markets put on a rate move at each Fed policy meeting shows a more than 84.5% chance of a rate cut at the next meeting in September.
At 6:20 a.m. ET, futures linked to the blue-chip Dow added 0.05%, while broad S&P 500 futures fell -0.21% and tech-heavy Nasdaq futures slipped -0.01%.
Fed watch
Trump said he's nominating Heritage Foundation chief economist E.J. Antoni as Bureau of Labor Statistics commissioner to replace Erika McEntarfer, whom Trump fired on Aug. 1.
The Senate would have to confirm him.
Corporate news
(This story was updated with new information.)
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
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