U.S. Stock Futures Turn Mixed Before 3.6% CPI Test and Q3 Earnings

3 articles · Updated · CNBC · Oct 13

S&P 500 futures rose 0.14%, Nasdaq-100 futures were flat and Dow futures slipped 0.35% early Wednesday as investors waited for September CPI and another wave of earnings.
Economists expect inflation to accelerate to 3.6% from 3.4%, with gasoline averaging $4.34 a gallon versus $3.08 a year earlier as elevated oil prices keep pressure on consumers.
Chip weakness still hung over the market after the VanEck Semiconductor ETF fell for a sixth straight session on AI-bubble valuation fears and rising competition concerns from China.
Bank of America fell more than 2% in extended trading after regulators imposed over $1.2 billion in penalties and said the bank failed to report more than $5 billion in suspicious transactions.
Third-quarter expectations remain demanding: S&P 500 earnings are projected to grow about 30%, with semiconductors and chip equipment expected to surge 130%, while Bank of America, Morgan Stanley and ASML report next.