U.S. Stock Market Braces for PPI Data as Inflation Concerns Loom

U.S. stock futures remained steady ahead of the January PPI report, crucial for understanding the Fed's future interest-rate decisions. Despite a recent CPI reading signaling inflation spikes, Fed Chair Powell stressed ongoing price battle concerns. Meanwhile, minor movements were observed in major stocks, except notable gains by Cisco and Robinhood.

Amid persistent inflation concerns, U.S. stock futures held their ground as investors anticipated the release of January's Producer Price Index (PPI) data on Thursday. This follows a significant Consumer Price Index (CPI) increase, which had reinforced the Federal Reserve's cautious stance on interest-rate cuts.

Fed Chair Jerome Powell, addressing Congress, emphasized the central bank's ongoing battle against rising prices. His comments came as traders predicted limited interest-rate cuts this year, given consistent signs of inflation pressure. President Trump attributed the data to broader trends, rather than his administration.

Despite market nerves, some companies bucked trends. Notably, Cisco Systems saw a 6.2% rise after an upbeat revenue forecast, and Robinhood Markets jumped 15.7% on better-than-expected profits. Meanwhile, Deere & Co and others prepared to announce earnings later in the day.

(With inputs from agencies.)