US stock futures surge ahead of exports and imports data

• Dow Jones Industrial Average futures surge 0.23 %

• S&P 500 futures advance 0.17%

• Nasdaq futures climb 0.03 %

Stock futures surged early Tuesday with investors looking ahead to inflation data anticipated later this week.

Dow Jones Industrial Average futures increased 0.23 %. The S&P 500 futures advance 0.17%, while the Nasdaq futures climb 0.03 %.

On Thursday, the U.S. Labor Department will issue consumer price index statistics for January.

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The reading comes on the heels of a stronger-than-expected January employment report, which has fueled speculation that the Federal Reserve may be more proactive in raising interest rates, CNBC reported. 

 The inflation statistics is projected to indicate that prices grew 0.4 % in January, representing a 7.2 % increase over the previous year.

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Bond Market

At 4:51 am, the yield on the benchmark 10-year Treasury note dropped to 1.94 %. The 30-year Treasury yield ticks up to 2.234 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.

Oil Prices

Brent crude futures, the global oil benchmark decreased 0.63 % to $92.10 a barrel. WTI Crude oil prices ticked down 0.45 % to $90.91 per barrel.

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Meanwhile, the December exports and imports numbers are scheduled to be released at 8:30 a.m. ET on Tuesday.

Picture Credits: Fox Business