Markets React Softer to August Inflation Data

U.S. stock index futures eased their gains after the release of the August consumer inflation report. The Consumer Price Index rose as expected, at 3.4% annually and 0.4% monthly. The core CPI, excluding food and energy, rose 2.4% annually and 0.3% monthly, slightly surpassing economist projections.

U.S. stock index futures showed moderation in gains on Friday as investors assessed the latest consumer inflation report for August. The Labor Department disclosed that the Consumer Price Index (CPI) increased 3.4% on a year-over-year basis, aligning with economist predictions.

On a monthly scale, the CPI saw a 0.4% rise, also meeting expectations. The core CPI, which strips out the volatile food and energy sectors, registered a 2.4% annual increase, consistent with forecasts, and a 0.3% monthly rise, slightly surpassing the expected 0.2%.

By 8:34 a.m. ET, there was noticeable movement across U.S. markets. The Dow E-minis evidenced an uptick of 347 points, or 0.67%, while the S&P 500 E-minis rose by 46 points, or 0.61%. Similarly, Nasdaq 100 E-minis climbed 213 points, or 0.73%.