On Wednesday, U.S. markets closed mixed, with the S&P 500 declining as unexpectedly high inflation data heightened concerns about delayed Fed rate cuts. Nvidia and Amazon weakened, weighing on the index, while strong earnings lifted CVS and Gilead. Inflation worries also challenged Trump’s tariff plans, adding to market uncertainty.

In economic data, January’s CPI rose faster than expected, hitting 3% year-over-year and exceeding forecasts. Monthly inflation climbed 0.5%, the highest since August 2023, accelerating from December’s 0.4% increase.

Most S&P 500 sectors declined, with materials, energy, and real estate stocks falling, while consumer staples and communication services outperformed and closed higher.

The Dow Jones Industrial Average was down 0.50% and closed at 44,368.56, the S&P 500 closed lower by 0.27% at 6,051.97, while the Nasdaq Composite rose 0.03% to finish at 19,649.95.

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Eurozone at 05:30 AM ET

• The European STOXX 50 was up 1.22%.
• Germany’s DAX gained 1.44%.
• France’s CAC rose 1.28%.
• U.K.’s FTSE 100 index traded lower by 0.68%
• European shares hit record highs Thursday, driven by strong earnings from Nestlé and Siemens, alongside optimism over U.S.-Russia peace talks on Ukraine. Automobiles surged, while Britain’s FTSE dipped, dragged by Unilever.

Commodities at 05:30 AM ET

U.S. Futures at 05:30 AM ET

Dow futures were up 0.04%, S&P 500 futures gained 0.01%, and Nasdaq 100 futures rose 0.16%.

Forex at 05:30 AM ET

• The U.S. Dollar Index fell 0.34% to 107.64, USD/JPY was down 0.36% to 153.79, and USD/AUD rose 0.18% to 1.5954.
• The U.S. dollar weakened as hopes for a Russia-Ukraine peace deal lifted sentiment, boosting the euro and ruble. Meanwhile, Japan’s yen strengthened due to rising inflation, and the U.K. GDP unexpectedly grew.

Photo by Pavel Bobrovskiy via Shutterstock