Stock market today: Dow and S&P 500 futures muted ahead of CPI data, Nasdaq rises

Futures connected the Dow Jones Industrial Average (YM=F) traded flat, portion those connected the S&P 500 (ES=F) edged up 0.2%. Contracts for the Nasdaq-100 (NQ=F) roseate 0.6% successful what is simply a comparatively quiescent week successful markets beyond the process extremity of net season.

Wednesday's ostentation people volition beryllium intimately watched pursuing the softer-than-expected July jobs report. Economists expect the Consumer Price Index to emergence astatine a slower yearly complaint of 3.4% successful July compared to June's 3.5% summation and ascent 0.1% period implicit month.

A hotter-than-expected people could fortify the lawsuit for the Fed to rise rates successful September, portion signs of ostentation easing further could springiness the Fed country to clasp rates steady. As of Tuesday, traders were pricing successful a astir 50-50 accidental of a complaint hike successful September.

Inflation concerns person driven up planetary enslaved yields. In the US, the 30-year Treasury output (^TYX) remained astatine 5.24%, portion South Korea's 30-year authorities enslaved output climbed to a record.

Ongoing tensions successful the Middle East service arsenic the backdrop propping up ostentation and yields arsenic the US and Iran stay deadlocked successful negotiations to reopen the Strait of Hormuz. The US enforced its blockade of the strait by firing connected a Panama-flagged vessel attempting to transverse the Gulf of Oman connected Tuesday, lifting Brent crude futures (BZ=F) adjacent to $90 per barrel.

On the net calendar, Cisco Systems (CSCO), Coherent Corp. (COHR), Nebius Group (NBIS), and Cerebras Systems (CBRS) are among the large companies reporting results.