Stock market today: Dow, S&P 500, Nasdaq futures trade flat as tariffs loom over cool inflation data

Updated Wed, Mar 12, 2025, 8:07 PM 1 min read

US stock futures held steady after markets breathed a sigh of relief thanks to a cooler-than-expected inflation report that buoyed tech shares in day trading.

Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) ticked up 0.1%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) remained flat.

Although Wednesday’s Consumer Price Index (CPI) report eased some fears about the health of the US economy, political uncertainty continues to grip markets.

US President Donald Trump’s trade war has only intensified this week. The European Union and Canada revealed retaliatory tariffs in response to US duties on steel and aluminum imports, and Trump threatened further escalation.

Read more: The latest on Trump’s tariff plans

Political negotiations are terse in Washington too and could deal another blow to a weary Wall Street. On Wednesday night, Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown this weekend.

Investors will get a second pulse check on inflation on Thursday with the release of the Producer Price Index (PPI).

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