US equity futures displayed a cautious inclination to rise prior to Tuesday's opening bell as investors geared up for the consumer inflation report set for release later this week. The Dow Jones Industrial Average futures registered a modest gain of 0.05%, while S&P 500 futures climbed by 0.3%. Notably, Nasdaq futures also enjoyed a similar increase of 0.3%.
The highly anticipated Consumer Price Index for August is scheduled to be unveiled on Wednesday at 8:30 am ET, a report that could significantly impact market sentiment and investor decisions. In commodities, oil prices experienced a downturn, with the front-month global benchmark North Sea Brent crude dropping by 0.9% to $71.19 per barrel.
Similarly, US West Texas Intermediate crude was also down 0.9%, settling at $68.06 per barrel. Turning to international markets, there was a mixed performance across major indices. Japan's Nikkei index concluded the trading day slightly lower, down by 0.2%. Conversely, Hong Kong's Hang Seng index saw a modest increase of 0.2%, alongside China's Shanghai Composite, which finished 0.3% higher.
In Europe, the UK's FTSE 100 fell by 0.4%, and Germany's DAX index mirrored this decline with a drop of 0.4% during the early afternoon session. Focusing on US equities, shares of Oracle ($ORCL) surged by 8.7% before the bell after the company reported fiscal Q1 earnings that surpassed analysts' expectations, alongside impressive revenue figures.
Meanwhile, shares of Mission Produce ($AVO) experienced a remarkable boost, rising 18% following the company's announcement of higher fiscal Q3 adjusted earnings and sales. On the downside, Hewlett Packard Enterprise ($HPE) saw its shares decline by 5% after announcing a substantial $1.35 billion offering of convertible preferred shares, a move that has raised concerns among investors.
Overall, the market is on edge as participants await crucial economic data and continue to react to earnings reports from prominent companies such as Oracle and Mission Produce..