S&P 500 Futures Edge Higher Before Inflation Data: Markets Wrap

(Bloomberg) — US stock futures edged higher ahead of crucial inflation data that is expected to show price pressures slowed last month.  

S&P 500 contracts rose 0.4% and Nasdaq 100 futures gained 0.7%, signaling gains for the indexes after two days of losses. Some investors pointed to sentiment improving after President Donald Trump said he doesn’t see a US economic recession, as well as Ukraine’s decision to accept a US proposal for a 30-day truce with Russia. 

All eyes are on the US consumer price index with economists polled by Bloomberg expecting an increase of 0.3% in February, versus the previous month’s 0.5% rise. While the Federal Reserve is not expected to cut interest rates at next week’s policy meeting, a benign print should reassure investors who have been on edge over the inflation trajectory, particularly in light of brewing trade wars. 

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President Donald Trump’s latest tariffs on steel and aluminum imports came into force Wednesday, extending his trade wars to more of the US’s top trading partners, while the EU launched countermeasures. However, he scrapped plans to double tariffs on Canadian steel and aluminum. 

Europe’s Stoxx 600 index rose 0.7% after four days of losses. Among individual stock movers, Zealand Pharma A/S soared 40% following its pact with Roche Holding AG to co-develop an experimental obesity drug. Retail sector shares were dragged lower by Zara-owner Inditex SA and Puma SE, which warned of pressure on sales.

 

Do tariffs matter more than the Fed for US stock markets in 2025? Share your views in the latest MLIV Pulse survey here.

Key events this week:

• Canada rate decision, Wednesday
• US CPI, Wednesday
• Eurozone industrial production, Thursday
• US PPI, initial jobless claims, Thursday
• US University of Michigan consumer sentiment, Friday

–With assistance from Matthew Burgess and Chris Bourke.

©2025 Bloomberg L.P.