US pre-open: Futures rise as traders brace for July CPI release
By Iain Gilbert
Date: Wednesday 12 Aug 2026
(Sharecast News) - Wall Street futures were in the green ahead of the open on Wednesday as traders looked ahead to July's all-important inflation report.
As of 1230 BST, Dow Jones futures were up 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.25% and 0.66%, respectively.
The Dow closed 184.13 points lower on Tuesday, extending losses recorded in the previous session.
As for Wednesday, the session's primary focus will undoubtedly be July's consumer price index at 1330 BST, with economists expecting to see monthly CPI cool from a 0.4% increase in June to a 0.1% uptick last month. However, core CPI, which strips out volatile food and energy costs, was seen rising from a flat reading in June to a 0.2% uptick in July. The estimated annualised increases of 3.4% and 2.5%, respectively, were both well and truly above the Federal Reserve's 2% target rate.
A hotter‑than‑expected inflation print will likely unsettle markets, with investors expecting it to heavily influence the central bank's September policy decision after officials pause through August. The Fed has remained focused on the strain higher prices have placed on US consumers, with three dissenters at the last FOMC meeting backing a rate hike. Bond markets will also be closely watching the data, with yields already reflecting expectations of a more restrictive rate backdrop.
Elsewhere on the macro front, US mortgage applications rose 3.6% in the week ended 7 August, according to the Mortgage Bankers Association, the strongest increase in two months and a rebound after two consecutive declines. Last week's uptick followed a brief easing in benchmark mortgage rates as long‑term Treasury yields pulled back from multi‑decade highs. Applications to refinance a mortgage, which are more sensitive to short‑term interest rate moves, climbed 5%, while applications to purchase a home increased 3%.
Still to come, July's Federal Government budget statement will be published at 1900 BST.
In the corporate space, technology business Cisco Systems and ticket reselling platform operator StubHub were both slated to report quarterly earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
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