South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
U.S. stock futures were largely unchanged Wednesday evening as Wall Street looked ahead to Thursday’s consumer price index (CPI) report, which could solidify expectations for a Federal Reserve interest rate cut next week.
S&P 500 Futures edged up 0.1% to 6,545.75, Nasdaq 100 Futures gained 0.1% to 23,894.0, while Dow Jones Futures traded flat at 45,552.0. The steady performance came after the S&P 500 and Nasdaq closed at record highs, lifted by a massive surge in Oracle shares and cooling inflation data.
Oracle (NYSE:ORCL) jumped 36% on strong demand for its cloud infrastructure and AI services, sparking a rally across AI-related tech names, including Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD), and Broadcom (NASDAQ:AVGO). Meanwhile, the Dow slipped 0.5%, weighed down by weaker components.
Markets were buoyed by softer-than-expected producer price index (PPI) data. August PPI declined 0.1% month-over-month and rose 2.6% year-over-year, well below forecasts. The report fueled hopes that the Fed could begin its rate-cut cycle with a quarter-point reduction at its September 17 meeting.
Investors are now focused on Thursday’s CPI release. Economists expect headline inflation to rise 0.3% month-on-month and 2.9% year-on-year, while core CPI is forecast at 0.2% monthly and 3.2% annually. The data will be key in shaping the Fed’s next move.
Elsewhere, Synopsys (NASDAQ:SNPS) plunged 36% after missing earnings expectations, driven by weakness in its Design IP segment and disruptions tied to China export restrictions. The drop nearly erased the stock’s 2025 gains.
Looking ahead, market attention will turn to earnings from Kroger (NYSE:KR) and Adobe (NASDAQ:ADBE), both scheduled to report Thursday.
