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US stock futures edged higher on Wednesday after Wall Street’s previous session was pressured by Nvidia’s continued sell off and hotter-than-expected US inflation.
Dow futures rose 0.2%, S&P 500 futures 0.2%, and Nasdaq-100 futures 0.4%. Nvidia fell another 5.5%.
October CPI rose 0.4% on a monthly basis, above expectations, lifting market pricing for a 25 basis point Fed rate hike in December to around 90%. In Asia, Japanese and South Korean stocks advanced, while Hong Kong and mainland Chinese equities traded lower.
Oil prices rebounded in the Asian session on Wednesday, with Brent rising nearly 1% to $92.41 and WTI gaining 0.6% to $86.61. The recovery was driven by renewed geopolitical concerns, including tensions around the Strait of Hormuz and continued uncertainty over potential US-Iran de-escalation.
Gold prices edged higher also after plunging nearly 3% in the previous session, although gains remained limited as hot US inflation reinforced expectations for a Federal Reserve rate hike next month. The precious metal rose 0.4% to $4,058 per ounce, and silver advanced 1.8% to $53.04 per ounce.
https://open.spotify.com/episode/1qrjiiBPU95x8acytDlhgR?si=3sol8TT-QV-nsmG-txB73g
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