Stock Market Today: Shares move up as CPI matches estimates; GM, Oracle in focus
U.S. and China agree to keep talking about trade. Oil and gold prices move higher.
Updated: 9:10 a.m. ET
Stock futures abruptly turned higher after investors embraced the government's report on consumer price inflation.
At 9 a.m. futures trading in the Standard & Poor's 500 index had moved to a gain of 13 points. Nasdaq-100 futures were up 59 points, and futures on the Dow Jones Industrial Average had climbed 53 points.
Just before the Consume Price Index report came out, the futures market was modestly lower.
Futures trading has proved a fickle indicator for investors since the market bottomed in mid-April.
The CPI report suggested prices fell 0.1% in May but were up about 2.4%.
Oil prices were higher because the United States and China have agreed to continue their tariff negotiations.
8:30 a.m. ET.
Stocks are looking to open slightly lower on Wednesday as investors parse an inflation report that matched Wall Street expectations.
The Consumer Price Index report, released at 8:30 a.m. EDT, showed annual inflation at 2.4% in May, compared with 2.3% in April. The Wall Street Journal reported that the latest number matched estimates from economists.
