Market Reaction to Inflation Data

Following the release of the Consumer Price Index (CPI) report by the Department of Labor Statistics, major U.S. stock indexes showed a downward trend in premarket trading on Thursday. The report indicated an increase in the annual inflation rate from 2.9% in December to 3% in January, causing concern among investors.

Upcoming Economic Reports

Investors are also awaiting fresh reports on producer inflation and the job market, which are scheduled for release before the market opens. These reports are expected to provide further insights into the economic outlook and could influence market movements.

Corporate Earnings on the Horizon

In the corporate sector, several companies including GE Healthcare, Coinbase, and Airbnb are set to announce their quarterly financial results later in the day. These earnings reports are highly anticipated and could impact the stock prices of these companies.

Market Performance

As of 4:20 am ET, the Dow Jones Industrial Average had decreased by 0.11%, while the S&P 500 also fell by the same percentage. The Nasdaq 100, however, remained flat, showing no significant change.

Currency Movements

In currency markets, the euro strengthened against the dollar, trading 0.25% higher at $1.04173 at 4:21 am ET.