S&P 500 Futures Rise Ahead of US Inflation Data and Bank Earnings

U.S. stock futures edged higher on Wednesday as investors awaited crucial inflation data and quarterly earnings from major Wall Street banks, with concerns over artificial intelligence financing continuing to influence market sentiment.

At 04:58 ET (08:58 GMT), S&P 500 futures gained 13 points, or 0.2%, while Nasdaq futures remained largely unchanged. Dow Jones futures climbed 151 points, or 0.3%.

Wall Street's major indexes closed lower on Tuesday amid uncertainty surrounding the financial outlook of leading AI developers OpenAI and Anthropic. However, technology giants investing heavily in AI demonstrated resilience, supported by their ability to finance expansion through operating cash flow rather than debt.

Analysts at Vital Knowledge highlighted concerns about whether OpenAI and Anthropic could achieve their anticipated public listing timelines and valuations. Anthropic, the developer of Claude, is reportedly preparing to release its third-quarter financial results for the first time.

Meanwhile, investors are closely monitoring the September U.S. Consumer Price Index (CPI) report, which could significantly influence the Federal Reserve's interest rate decisions.

Economists expect annual headline inflation to accelerate to 3.6% from 3.4% in August, while monthly inflation is projected to rise to 0.6% from 0.4%.

Core inflation, excluding food and energy, is forecast to increase slightly to 2.5% annually, compared with 2.4% previously. Monthly core CPI is expected to ease to 0.2% from 0.3%.

Higher energy prices, fueled by escalating Middle East tensions, remain a major inflation concern. Deutsche Bank analysts warned that September's energy price increases could push overall inflation higher.

Bank earnings are another key focus for investors, with Bank of America, Morgan Stanley, and BlackRock scheduled to release quarterly results.

Earlier reports showed weaker-than-expected fixed-income trading revenue at JPMorgan Chase and Goldman Sachs. Citigroup shares declined 5.6%, making the bank the weakest performer in the KBW Banks Index.

Despite generally satisfactory earnings, analysts remain cautious about whether current banking conditions represent a peak for industry profitability.

Outside the financial sector, Dutch semiconductor equipment manufacturer ASML raised its annual sales outlook again, citing robust AI-driven demand. The company indicated that customers were considering equipment orders extending into 2030, sending its shares more than 1% higher in European trading.

Investors will now assess whether inflation figures and corporate earnings can provide fresh momentum for U.S. stocks.