Wall Street experienced a mixed start in early trading on Tuesday as investors awaited a crucial report on inflation in the U.S. that could influence the Federal Reserve's decision on interest rates. Futures for the S&P 500 showed a 0.2% increase, while futures for the Dow Jones Industrial Average were slightly down.
The upcoming report on consumer prices in February may reveal that inflation held steady at 3.1%, aligning with economists' predictions. Despite a previous spike in inflation causing market turbulence, recent trends have shown a gradual decline, approaching the Fed's target of 2%. Fed Chair Jerome Powell hinted at potential rate cuts, aiming to alleviate economic pressures and boost investment.
Market expectations suggest that the Fed might initiate rate cuts in June, bolstering equity prices. Oracle's stock surged over 13% after surpassing profit estimates, driven by robust growth in its cloud division. New York Community Bank also saw a modest uptick following the closure of a $1 billion funding deal.
European markets displayed positive movements, with Germany's DAX and Britain's FTSE 100 gaining, while France's CAC 40 remained stable. In Asia, Japan's Nikkei 225 dipped slightly amid speculations of a potential interest rate hike by the central bank.
Chinese markets exhibited mixed performances, with Hong Kong's Hang Seng rising 3.1% and the Shanghai Composite index declining. Bitcoin, after hitting a record high, hovered around $71,886, contrasting sharply with its value at the beginning of last year.
In the energy sector, U.S. benchmark crude oil inched up to $78.15 per barrel, while Brent crude reached $82.53 per barrel. Currency markets saw the dollar weakening against the Japanese yen and the euro gaining ground.
On Monday, the S&P 500 and Dow Jones Industrial Average showed minor fluctuations, with the Nasdaq composite experiencing a slight decline.
