NEW YORK, January 13, 2026, 08:56 EST
- U.S. stock index futures pushed higher following a December core inflation report that came in below forecasts
- In December, the CPI increased by 0.3%, with core CPI up 0.2%
- JPMorgan surpassed profit estimates but took a $2.2 billion hit linked to Apple Card provisions
U.S. stock index futures climbed Tuesday following a crucial inflation report that revealed underlying price pressures eased beyond forecasts, easing some concerns over interest rates.
The CPI report drops as investors turn to the Federal Reserve’s upcoming policy meeting later this month, alongside the first round of major bank earnings that typically shape the season’s mood.
The Labor Department reported that the Consumer Price Index increased 0.3% in December, seasonally adjusted, and was 2.7% higher than a year ago. Core CPI, excluding food and energy, rose 0.2% in December. Shelter costs went up 0.4%, while food prices climbed 0.7%.
Core inflation missed expectations tracked by Reuters, strengthening bets the Fed will hold steady after last year’s volatile inflation readings. The central bank’s policy rate remains between 3.50% and 3.75%.
JPMorgan Chase’s latest results gave investors fresh points to mull over. CEO Jamie Dimon described the U.S. economy as “resilient,” yet cautioned that markets might be underestimating risks. The bank posted $5.23 a share on an adjusted basis and took a $2.2 billion hit linked to acquiring Apple’s credit-card partnership from Goldman Sachs. Its shares nudged up about 0.5% in premarket trading. “The bar for perfection is set pretty high,” noted David Wagner of Aptus Capital Advisors. Stephen Biggar from Argus Research called the investment banking segment “a bit disappointing,” though he anticipates more upbeat remarks soon. Reuters
Several U.S. lenders are set to report this week, notably Bank of America, Citigroup, and Wells Fargo on Wednesday. Traders will be closely monitoring any changes in their outlook on dealmaking, credit quality, and consumer spending.
Bank of New York Mellon raised its profitability target, yet its shares edged lower in premarket trading. Delta Air Lines dropped steeply after projecting roughly 20% earnings growth by 2026, dragging down United and American along with it.
But the day’s upbeat mood could unravel quickly. Investors remain focused on the political and legal battles facing Fed Chair Jerome Powell, a situation stirring new doubts over central-bank independence. Any escalation might rattle both interest rates and stock markets.
Despite the core CPI surprise, the main issue remains how it shapes expectations past January. Neal Keane at ADSS said, “It is unlikely to alter Fed policy,” though he acknowledged the report could still influence market bets on cuts in 2026. barchart.com
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