Wall Street searched for footing early today as the last earnings reports of 2024 trickled in ahead of new data on U.S. inflation, the Associated Press reports. Futures for the S&P 500 rose less than 0.1% before the opening bell, and futures for the Dow Jones Industrial Average fell less than 0.1%.
The U.S. will release consumer inflation numbers for last month on Wednesday that economists expect to be little changed. November data on inflation at the wholesale level arrives Thursday. They’re the last big pieces of data the Federal Reserve will get before its meeting next week, where many expect the year’s third interest rate cut.
Software giant Oracle tumbled 7% after it came up just short of Wall Street’s second-quarter sales and profit targets, even as its AI-related revenue soared.
Homebuilder Toll Brothers beat Wall Street sales and profit targets but its stock fell 3.5% in premarket trading.
Vail Resorts jumped 3.8% after the ski resort operator reported a narrower first-quarter loss than expected in what is traditionally its worst quarter. Though pass sales for the upcoming year are down by units, price increases more than offset that decline.
A barrel of benchmark U.S. crude gave up 37 cents to $68 per barrel early today. Prices are down 3% this month, and U.S. crude has not traded above $70 for more than two weeks. Brent crude, the international standard, lost 7 cents to $71.05 per barrel.
The U.S. dollar rose to 151.60 Japanese yen from 151.22 yen.
