S&P 500 and Nasdaq futures inched up on Tuesday ahead of U.S. consumer prices data that could provide insight on whether inflation has eased enough for the Federal Reserve to lower borrowing costs in coming months.
Most Asian currencies moved little on Tuesday, while the dollar steadied as markets awaited key U.S. inflation data for more cues on when the Federal Reserve could begin cutting interest rates.
Oil prices rose in Tuesday trade as geopolitical tensions in the Middle East continued to spur concern, but gains were limited on bearish demand sentiment and as the market waited for monthly reports from oil agencies.
Bitcoin traded just below record highs in Asian trade on Tuesday, seeing continued support from steady inflows into the spot exchange-traded funds that were approved earlier this year.
On Tuesday, Bank of America strategists hiked their 2024 S&P 500 earnings per share (EPS) estimates to $250, up from the previous forecast of $235. The new estimate, which marks the highest top-down forecast on Wall Street, implies a year-over-year (YoY) upside of roughly 12%. “Companies delivered another strong beat in 4Q and our economists…
