Muted Wall Street Open as Inflation and Mixed Earnings Set Tone

Wall Street's main indexes are anticipated to open Tuesday with minor changes as in-line inflation data hints at possible interest rate cuts. Quarterly earnings from JPMorgan and Delta Air Lines present mixed results. The trading landscape is further influenced by a criminal investigation involving Fed Chair Jerome Powell.

As Wall Street anticipates a muted opening on Tuesday, an in-line inflation report keeps expectations of interest rate cuts alive, despite some mixed quarterly earnings results from JPMorgan and Delta Air Lines.

The data showed a 0.2% rise in U.S. consumer prices in December, below the forecast of a 0.3% increase. With headline and core CPI both increasing by 2.6% year-on-year, traders are betting on at least two more interest rate cuts this year. Meanwhile, Fed Chair Jerome Powell faces a criminal investigation, sparking concerns about the central bank's independence.

Among quarterly earnings, JPMorgan shares rose slightly after beating profit estimates, driven by gains in volatile markets. Conversely, Delta Air Lines shares dropped after missing profit forecasts, affecting other airline stocks. Meanwhile, tech giants and record markets gains have kept investor focus intense.

(With inputs from agencies.)