As investors remained on edge before a report expected to reveal that inflation in the world's largest economy eased for a fourth consecutive month, US stock-index futures climbed while treasuries fell.
A day after the underlying indices plunged to one-week lows amid a hazy midterm election result and instability in the crypto industry, December contracts on the S&P 500 and Nasdaq 100 each gained at least 0.3%. As its profits came in line with expectations, Gen Digital surged in the New York premarket session. Treasury prices dropped, and yield curves flattened. The dollar increased, but oil continued to decline for the fourth day.
Investors are searching for more concrete indications of an inflation peak in the US that would signal an easing of the speed and severity of the federal reserve's monetary tightening. Despite economists' predictions that headline inflation would fall to 7.9% in October, markets continue to exercise caution because the figure has consistently exceeded expectations this year. JPMorgan Chase's scenario study indicates that the S&P 500 might increase by more than 5% if the reading is 7.6% or less, but that a higher-than-expected figure would result in a 6% decline.