US Stock Market Reacts to Inflation Data

Following the Department of Labor Statistics' report indicating a rise in the US annual inflation rate from 2.9% in December to 3% in January, major US stock indexes showed a downward trend during premarket trading on Thursday. The Dow Jones Industrial Average and the S&P 500 both experienced a decrease, while the Nasdaq 100 remained stable.

Upcoming Economic Reports and Corporate Earnings

Investors are also anticipating the release of new reports on producer inflation and the job market, which are expected before the market opens. Additionally, significant attention is on GE Healthcare, Coinbase, and Airbnb as they prepare to disclose their quarterly financial results later in the day.

Currency Market Movements

In the currency markets, the euro saw a slight increase against the dollar, trading 0.25% higher at 4:21 am ET, with an exchange rate of $1.04173.