US stock market today: Reversing earlier losses, US stock futures edged marginally higher on Friday, April 10, signalling a flat-to-positive start for Wall Street. The upside remained capped as investors chose to stay on the sidelines ahead of the crucial following the ceasefire announcement and the crucial inflation data.
The futures of all three indices gained between 0.08% to 0.16%, with the tech-heavy E-mini Nasdaq-100 Futures rising the most. Meanwhile, S&P 500 and Dow Jones E-mini futures were up 0.08% and 0.06%, respectively.
The on Thursday as the fragile ceasefire held ahead of the peace talks in Pakistan later this week.
The announcement of a two-week ceasefire earlier this week between the US and Iran marks the first significant steps to end the that began on February 28.
According to a Reuters report, the S&P 500 is on track for its largest weekly jump since November. Meanwhile, the Dow is set to post its strongest gains since June amid ceasefire optimism.
Markets have drawn comfort from Israeli Prime Minister Benjamin Netanyahu’s comments that he was seeking direct talks with Beirut.
Iran and the United States have accused each other of violating ceasefire promises, making it a shaky truce, while the Strait of Hormuz remains largely shut, making markets highly sensitive to headline developments. US President Donald Trump reissued threats to Iran following reports that Tehran will charge tankers attempting to pass through the waterway.
CPI inflation eyed
Apart from geopolitical developments, investors will also keenly track the inflation numbers as they could signal the impact of rising crude prices on the economy following the Middle East war. The numbers are also crucial as they could set the tone for the ‘s monetary policy.
Reuters estimates that consumer prices could post their biggest increase in nearly four years in March. Economists polled by the news agency peg CPI to rise 3.3% annually, further dampening hopes of a US Fed rate cut.
Money market participants are not pricing in any easing in 2026. They had expected two interest-rate reductions before the war broke out, according to the CME Group’s FedWatch, the report added.
Meanwhile, crude oil prices held steady today, even though they were headed for the worst weekly decline since last June. Brent crude futures hovered around $98 per barrel, and West Texas Intermediate futures were at $98 per barrel.
Both contracts have lost about 12% this amid the ceasefire by US and Iran.
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