U.S. stock market futures were trading flat during Tuesday's evening deals following a mixed regular session as market participants reacted to October's reading of consumer prices. The Labor Department reported that consumer prices for the month of October rose 0.4% from the previous month, in line with expectations.
stock mounted their biggest rally since 2020 after October's reading of consumer prices showed inflation was not as high as expected. The market was most likely relieved that the data did not point to an imminent rise in the Fed funds rate as investors had feared, according to Jeremy Siegel, Wharton professor of finance.
Treasury yields moved lower while stock market futures trimmed losses following the release. The Dow Jones Industrial Average closed up 0.31% after testing a new high for the day, while the S&P 500 gained 0.13%. The Nasdaq Composite also rose slightly, closing up 0.12%.