The S&P 500 and Nasdaq 100 futures are trading at all-time highs level ahead of the CPI reading, set to be released this morning, at 8:30 am. EU markets are trading at 2021 highs as well, and trading near the flat line ahead of the inflation news, up 0.16% for the EURSX50 and down 0.03% for the German DAX, while Asian markets closed a mixed session, the NIKKEI gained 0.65% and the CSI 300 lost 0.55%. The dollar is trading at 93.11 versus majors, up 0.08% as investors await the inflation report. Gold and Silver are trading near the flat line as well, Gold is trading at $1,777 per ounce, up 0.35% and Silver is trading at $25.55 per ounce, up 0.14%. Oil is trading lower by 1.5% this morning, after the White House called on OPEC+ to boost production despite the steep demand drop, in order to support the global recovery and temper with inflation risks. Oil is trading at $67.34 per barrel this morning, as investors await the release of the Inventories numbers, at 10:30 am this morning.
US CPI at 8:30 am and Oil Inventories at 10:30 am are the important news on the agenda Wednesday, (all times EST).
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Both the Nasdaq 100 and the S&P 500 futures are flat, ahead of the inflation numbers set to be released at 8:30 am.
OIL trades at the $67 level on White House pressure for more production and ahead of the Inventories numbers set to be released this morning.
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