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Dow, S&P 500, Nasdaq futures wobble after CPI inflation cools more than expected


US stock futures wavered on Friday after a broad market sell-off as Wall Street digested a cooler-than-expected inflation reading for a steer on the path of interest rates.

Contracts on the S&P 500 (ES=F) and the Dow Jones Industrial Average futures (YM=F) both hovered near the flatline. Nasdaq 100 futures (NQ=F) fell 0.1% the day after intense selling pressure on techs.

Inflation cooled more than expected in January, data released Friday by the Bureau of Labor Statistics showed. The Consumer Price Index showed that consumer prices increased 0.2% in January from a month earlier, and 2.4% on an annual basis.

The report is likely to shape expectations for an already complicated Federal Reserve policy. Traders revived some bets on a June cut, with a majority expecting a quarter-point reduction that month. Most bets remain on two cuts by the end of 2026, though a larger percentage of traders is now betting on more reductions.

Meanwhile, caution prevails after a day of heavy selling as fears about AI disruption spilled into sectors such as real estate, logistics, and transportation — “old economy” names previously seen as a safe alternative to AI-tied stocks. Techs got pummeled, with all seven of the “Magnificent Seven” megacaps finishing lower.

That may be set to resume as investors scrutinize the latest earnings for the next “shoot first, ask questions later” AI scare. Applied Materials (AMAT) stock surged over 10% as the chip toolmaker’s upbeat outlook mirrored robust AI demand. But Pinterest (PINS) shares tumbled about 20% as revenue fell short and analysts fretted about AI risks to its discovery platform.

On the earnings front, Rivian (RIVN) shares jumped almost 20% following its fourth quarter earnings beat late Thursday. The EV maker said its R2 midsize model is on track for delivery before the summer. Before the bell, eyes are on Moderna’s (MRNA) report, after it suffered a 10% drop in share value this week as the FDA rejected a new flu vaccine.

LIVE 8 updates

  • Jake Conley

    US inflation cools more than expected in January

    Consumer prices rose 0.2% in January over the previous month, according to data released by the Bureau of Labor Statistics on Friday morning, cooling more than economists had expected. The inflation measure rose 2.4% year-on-year.

    The so-called “core” consumer price index, which excludes the often volatile food and energy categories, rose by 0.3% from the previous month and 2.5% over the previous year.

    The headline increases in inflation were just below economists’ expectations of gains of 0.3% on a monthly basis and 2.5% on a yearly basis. January’s core CPI readings were directly in line with expectations month-on-month and year-on-year.

    The readings on inflation swung traders’ outlook for rate cuts from the Federal Reserve, now pricing in a 51% chance of at least one 25 basis-point cut by the Fed’s June meeting. Though, traders remain broadly convinced the Fed will hold rates steady in its upcoming March meeting, with less than 10% pricing in a rate cut at that meeting.

  • Jenny McCall

    Premarket trending tickers: DraftKings, Roku, and Maplebear

    DraftKings (DKNG) stock fell 17% before the bell on Friday after the US gambling company missed analyst expectations for this year’s guidance as it steps up its investments in prediction markets.

    Roku (ROKU) stock rose 15% during premarket hours after the streaming company beat analysts’ estimates for fourth quarter earnings. Roku also issued strong guidance for the year.

    Maplebear (CART), also known as Instacart, saw its stock jump by 12% before the bell today after beating analysts estimates for revenue, which rose 12% to $992 million. However, the group’s fourth quarter earnings were dented by a $60 million settlement with the Federal Trade Commission amid claims that it used underhand tactics to raise costs for shoppers.

  • Wall Street’s AI angst is turning into a blessing for Asia stocks

    From Bloomberg:

    Wall Street’s fears of business disruption caused by artificial intelligence are turning into a blessing for Asian stocks, fueling demand for the region’s leading chipmakers that dominate the industry’s supply chain.

    The MSCI Asia Pacific Index has risen more than 12% in 2026, in contrast to losses in US benchmarks as shares were sold off on fears that AI models may threaten the business of software, legal and real estate service providers. The S&P 500 (^GSPC) is down 0.2% for the year, while the technology-heavy Nasdaq 100 (^NDX) gauge has lost around 2%.

    The divergence underscores global funds’ shift of preference from AI pioneers burdened by massive spending toward hardware producers with strong pricing power, many of whom are in Asia. Surging memory chip prices have been a boon for the region’s heavyweights such as Samsung Electronics Co. (005930.KS, SSNLF), while Taiwan Semiconductor Manufacturing Co.’s (TSM, 2330.TW) irreplaceable role as the world’s leading contract chipmaker has provided support for Taiwanese stocks.

    “The main worry of the US is hyperscaler spending money,” said Richard Tang, head of research Hong Kong at Julius Baer. “Most of Asia’s tech exposure is upstream. Whoever wins in the end, upstream will still collect revenue from downstream players.”

    Read more here.

  • Jenny McCall

    Rivian stock surges on Q4 results; upcoming R2 EV on track for Q2 customer deliveries

    Rivian (RIVN) stock soared 19% during premarket hours on Friday following the release of better-than-expected fourth-quarter results on Thursday.

    Yahoo Finance’s Pras Subramanian reports:

    Read the full story here.

  • Applied Materials stock surges after results beat on the top and bottom lines

    Applied Materials (AMAT) stock climbed 11% during premarket hours on Friday after the ⁠semiconductor equipment maker beat Wall Street expectations on the top and bottom lines.

    The after-hours reaction to Applied Materials’ results added to the strong run for the stock in 2026. Year to date, shares are up 27%.

    Reuters reports:

    Read more here.

  • Jenny McCall

    Pinterest forecasts downbeat revenue as it battles for digital ad dollars; shares plunge

    Pinterest stock sank 19% before the bell on Friday after forecasting first quarter revenue below analysts’ estimates on Thursday.

    Reuters reports:

    Read more here.

  • China lifts lid on outbound acquisition for first time this decade

    Bloomberg reports:

    Read more here.

  • Gold climbs back after steep losses, holds below $5,000

    Bloomberg reports:

    Read more here.



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Tags :Bureau of Labor StatisticsConsumer Price Indexinterest ratesNASDAQUS stock futures
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