Wall Street is poised to bounce back after surprisingly hot U.S. inflation data sent stocks tumbling this week.
Futures for the S&P 500 rose 0.5% before the bell and futures for the Dow Jones Industrial Average gained 0.3%.
With little in the way of market-moving economic data to be released Wednesday, the focus is back on corporate earnings.
Online vacation rental booker Airbnb slid 5% after it reported losing $349 million in the fourth quarter due to an income tax settlement with Italy.
The company forecast first-quarter revenue that would meet or beat Wall Street expectations, however, Airbnb said the pace of bookings growth is likely to “moderate” from the fourth quarter into the first.
Coming after the bell Wednesday are the latest quarterly results from Cisco Systems and Wyndham Hotels.
In Europe at midday, France’s CAC 40 gained 0.6%, while Germany’s DAX added 0.4%. Britain’s FTSE 100 added 0.9%.
Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, surging 0.8% to 15,879.38 after opening lower. Markets in mainland China remain closed all week.
Japan’s benchmark Nikkei 225 shed 0.7% to 37,703.32. Australia’s S&P/ASX 200 dipped 0.7% to 7,574.70. South Korea’s Kospi fell 1.1% to 2,620.42.
India’s Sensex gained 0.2% and the SET in Bangkok lost 0.6%.
Back in the U.S., Tuesday’s report from the Labor Department showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month. Compared with a year ago, prices were up 3.1%.
