(Bloomberg) — US stocks were set to open near all-time highs on hopes that the inflation report won’t undermine the case for Federal Reserve interest-rate cuts.
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Futures contracts on the S&P 500 and Nasdaq 100 were little changed, while the MSCI All Country World Index extended its longest run of advances since January. Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in other regions to US shores.
Treasury yields edged lower and a gauge of the dollar softened ahead of US consumer price index data, which is expected to show a slight moderation in price increases. Core CPI, which excludes volatile food and energy costs, is seen slowing to 0.3% month-on-month, from 0.4%.
“There seems to be an expectation that the data will cool from last month and the market does seem to be somewhat set up that way,” said Samuel Zief, head of global FX…
