Stock Futures Are Ticking Slightly Lower This Morning After CPI Rose 3.4% Year-Over-Year

U.S. stock futures are lower. Stock futures are ticking slightly lower this morning after US CPI rose 3.4% year-over-year in December, marking an increase from 3.1% in November and surpassing estimates of 3.2%. Core CPI came in at 3.9% year-over-year, slightly hotter than the estimated 3.8%, but it represented a decrease from the 4.0% increase in the previous month. Treasury yields are modestly higher after the release. Weekly jobless claims came in at 202k, matching last week but falling short of estimates at 209k. Earnings season is set to begin tomorrow, featuring reports from JP Morgan, Delta, Wells Fargo, Citigroup, and others announcing their Q4 results. As anticipated, yesterday the SEC announced rule changes approving 11 spot bitcoin ETFs. Asian markets closed broadly higher, led by Japanese markets reaching a 33-year high, while European markets are trending lower. Crude and gold prices are higher. Concurrently, the U.S. Dollar is strengthening after the CPI release.

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