Nasdaq 100 Forecast: QQQ is unchanged as investors wait for inflation data

US futures

Dow future -0.12% at 44,322

S&P futures 0.1% at 6058

Nasdaq futures 0.14% at 21476

In Europe

FTSE -0.4% at 8308

Dax 0.03% at 20390

US stocks trade in a tight range
US CPI data on Wednesday is the main focus
Oracle drops after missing earning & revenue forecasts
Oil falls after disappointing Chinese imports & exports data

Stocks struggle for direction ahead of tomorrow‘s CPI

U.S. stocks are heading for a quiet open on Tuesday after steep losses in the previous session, and as the focus remains on upcoming inflation data.

US equities fell yesterday as a tech pullback dragged Wall Street's indices off record highs. The Nasdaq 100 underperformed its peers, closing 0.6% lower.

Today, the US economic calendar is quiet. Attention remains firmly on tomorrow's inflation data, which could influence the Federal Reserve's future path for interest rates.

The headline CPI is forecast to increase to 2.7% YoY, up from 2.6% in October, while core CPI is expected to hold steady at 3.3%.

Inflation has fallen steadily throughout most of the year but has been more sticky in recent months amid a resilient U.S. economy. This is raising some concerns over the Fed's ability to cut rates in 2025. The market is pricing in an 85% probability of a 25 basis point rate cut in December, but rate cuts are expected to slow across the coming year.

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