US equity futures saw a positive surge ahead of Wednesday's market opening, as investors analyzed the latest US inflation metrics. The Dow Jones Industrial Average futures indicated a robust 0.6% rise, while the S&P 500 and Nasdaq futures exhibited increases of 0.8% and 1% respectively. Additionally, the oil market experienced upward momentum, with key global benchmarks reflecting a 1.3% raise in North Sea Brent crude, now priced at $70.50 a barrel.
Similarly, US West Texas Intermediate crude rose 1.5%, reaching $67.24 per barrel. A recent consumer price index report, released at 8:30 am ET, highlighted a modest 0.2% rise in consumer prices for February, following a slightly stronger 0.5% increase in the previous month. This figure fell short of Bloomberg’s expectations, which had predicted a more substantial 0.3% uptick. Despite mixed signals in global markets, Japan's Nikkei index managed to close on a positive note, up by 0.07%, while Hong Kong's Hang Seng and China's Shanghai Composite indices reported losses of 0.8% and 0.2% respectively.
Conversely, the UK's FTSE 100 index traded higher by 0.7%, and Germany’s DAX index saw a notable rise of 1.7% during Europe’s early afternoon trading session. In the equities realm, Rocket Lab USA saw a significant pre-bell spike of 9%, attributed to the announcement of a new contract with Airbus to produce space-grade solar panels.
On a less favorable note, Zynex experienced a drastic decline of 32% after revealing a fourth-quarter loss accompanied by decreased net revenue, which contributed to investor concerns..