Stock futures are trading flat as traders await inflation data

CPI data will be the main headline for today’s trading. Core CPI is expected to come out at 0.3% while CPI YoY is expected to come out at 3.3%. The number is lower than the previous release which came out at 3.7%. If the CPI number continues to move lower then it will put more pressure on the Fed to pause or decrease interest-rate. Traders will monitor the data release and market reactions while aiming to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to extend the bullish close yesterday but not with strong momentum. The index might stick near the current level, consolidating and waiting for further development. If the index turns lower then the range between daily SMA 100 & 200 will be maintained.

Sketchers USA Inc (SKX)

SKX share prices look moving inside the area as shown on the chart. It is currently trading near the daily SMA 200 and will attempt to bounce upward. Will the share prices break out from the range and continue the bullish movement? Alternatively, will it turn lower and continue consolidating inside the range?