The Consumer Price Index rose 2.7% year over year in December, matching both the prior reading and economists’ estimates. Notably, core CPI came in at 2.6% year over year, slightly below expectations.
After last week passed without a decision, investors are now focused on Wednesday’s scheduled Supreme Court opinion release for a potential ruling on the challenge to President Donald Trump's tariff authority.
Meanwhile, the 10-year Treasury bond yielded 4.17%, while the two-year bond yielded 3.52%. The CME Group's FedWatch tool‘s projections show markets pricing a 97.2% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.
Index
Performance (+/-)
Dow Jones
-0.15%
S&P 500
-0.16%
Nasdaq 100
-0.16%
Russell 2000
0.14%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Wednesday. The SPY was down 0.15% at $692.73, while the QQQ declined 0.20% to $625.00, according to Benzinga Pro data.
Stocks In Focus
Wells Fargo
Wells Fargo & Co. (NYSE:WFC) was 0.81% lower in premarket on Wednesday as analysts expect it to report quarterly earnings before the opening bell. Wall Street expects earnings of $1.67 per share on revenue of $21.65 billion.
Benzinga’s Edge Stock Rankings shows that WFC maintains a stronger price trend over the short, medium, and long term, with a moderate quality ranking. Additional information is available here.
BP
BP PLC (NYSE:BP) dropped 1.84% after announcing that its energy ...
