Wall St futures steady with CPI data, Hormuz risks in focus

U.S. stock indices remained relatively stable on Tuesday evening, as investors awaited the release of key consumer inflation data. The S&P 500 Futures index increased slightly by 0.1% to 7,755.0 points, while the Nasdaq 100 Futures rose by 0.2% to 29,686.0 points. The Dow Jones Futures index remained flat at 53,889.0 points. The S&P 500 had fallen 0.3%, the Nasdaq dropped 0.6%, and the Dow declined 0.3% during the regular trading session.

Market participants are closely watching the upcoming U.S. consumer price index report, scheduled for Wednesday, which could provide insights into the Federal Reserve's future interest-rate decisions. Economists anticipate a 0.1% month-over-month increase in headline CPI for July, following a 0.4% decline in June, with annual inflation expected to remain at 3.4%, down from 3.5%.

The core CPI, excluding food and energy, is projected to rise by 0.2% compared to the previous month. Investors are particularly attentive to the inflation reading, as a hotter-than-expected result could rekindle speculation about a more aggressive Federal Reserve stance. The geopolitical situation remains volatile, with ongoing negotiations between the U.S. and Iran over the Strait of Hormuz facing new challenges.

Iran has demanded the release of frozen assets and an end to U.S. involvement in regional conflicts, while the Trump administration has proposed Iran pay reparations. Brent crude oil prices surged for a sixth consecutive day, nearing $90 per barrel, as uncertainty surrounding the safety of shipping through the Hormuz Strait persists.

Recent attacks on commercial vessels in the Bab el-Mandeb Strait resulted in the deaths of four crew members and two Yemeni rescuers, and the U.S. Navy has disabled a Panama-flagged ship near the Gulf of Oman, further complicating efforts to de-escalate tensions.