U.S. stocks are on track to extend recent gains with futures rising ahead of important inflation reports. The consumer price index is set to be released, providing insights into the impact of President Trump's tariffs on inflation. The previous week ended positively, with the Nasdaq achieving a new high. Futures for the Dow, S&P 500, and Nasdaq showed modest increases. Despite no immediate spike in inflation due to tariffs, businesses face increased costs from reducing stockpiles. Companies are absorbing these costs, affecting consumers as the economy slows down.
Stocks were poised to add to recent gains as futures ticked higher ahead of crucial inflation reports. The consumer price index will provide clues on tariffs' impact on inflation.
The Nasdaq hit a new closing high, and the S&P 500 is nearing a record. Futures for the Dow Jones rose 68 points, and S&P 500 futures were up 0.13%.
Trump's tariffs haven't spiked inflation, but businesses have drawn down stockpiles, leading to costlier new inventory and indication of pressures on consumers.
Earnings reports show some companies absorbing costs from tariffs instead of passing them on to consumers, while the Federal Reserve waits on rate cuts pending inflation impacts.
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