Wall Street Points Higher Ahead of Key US Inflation Report
Hyperdash NewsMacroUS stock futures pointed higher early Wednesday, with S&P Futures up +0.28% and Nasdaq Futures up +0.71%, as traders positioned ahead of a US inflation report that markets expect to shape the Federal Reserve's next move. Gold advanced and the dollar firmed.
Scoreboard
- S&P Futures 7,769.25 (+0.28%)
- Euro Stoxx 50 6,566 (+0.22%)
- Nikkei 225 67,524 (+0.83%)
- Gold 4,473 (+0.72%)
- WTI 83.08 (-0.14%)
- US 10Y 4.674% (-1bp)
- DXY 99.8560 (+0.03%)
- Bitcoin 64,082 (-0.18%)
- VIX 15.41 (+0.85%)
- DE 10Y 3.149% (+1bp)
The overnight tape leaned risk-on. In Asia, the Nikkei 225 climbed +0.83% to close at 67,524, though the Yen slid despite a historic round of US-Japan intervention. Europe's Euro Stoxx 50 edged up +0.22%. Gold rose +0.72% to 4,473 ahead of the inflation print, while the dollar index firmed +0.03%. Crude eased, with WTI slipping -0.14% and Brent -0.15%, as headlines cited a four-decade low in the US Strategic Petroleum Reserve and President Trump's comments on the Strait of Hormuz. Bitcoin edged down -0.18%. Norway's sovereign wealth fund reported a record profit and disclosed a SpaceX stake.
Key headlines
- Trump: US Controls Strait of Hormuz, Does Not Trust Iran
- US Strategic Oil Reserve Hits 40-Year Low
- Gold Edges Higher Ahead of US Inflation Data
- We're lifting our price target on Cardinal Health after issuing rosy profit guidance
The takeaway
The muted moves in Treasuries and the dollar, with the US 10Y yield barely changed at 4.674% and DXY up just +0.03%, suggest markets are holding fire until the inflation report lands. Gold's climb to 4,473 reflects the same hedging impulse ahead of a print that could reset Fed rate-cut expectations.
The US inflation report headlines the session and is widely viewed as a significant input for the Fed's next decision. Traders will also parse Crude, where the SPR at a four-decade low and Hormuz tensions frame the supply picture, and watch whether S&P Futures hold their gains into the cash open. The CME's launch of AI computing power futures marks a new tradable asset class.
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Frequently asked questions: August 12, 2026
What is happening in the markets today?
US stock futures pointed higher before the open, with S&P Futures up +0.28% and Nasdaq Futures up +0.71%, as traders awaited a US inflation report. Gold rose +0.72% to 4,473 and the dollar firmed +0.03%.
Where are US stock futures this morning?
US stock futures traded higher. S&P Futures rose +0.28% to 7,769.25, Nasdaq Futures gained +0.71% to 29,836.00, and Dow Futures were little changed at 53,933.00, up +0.10%.
What should investors watch in the markets today?
The main catalyst is the US inflation report, seen as a key input for the Fed. Investors should also watch Crude, where WTI slipped -0.14% amid Hormuz tensions and a four-decade-low SPR, and the VIX, up +0.85% to 15.41.
Where can I track live market data across asset classes?
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