Stock Futures Mixed After December CPI Data Release

Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are just above breakeven this morning, with the first earnings season of 2026 underway. The Dow Jones Industrial Average (DJIA) is slipping, however, as investors digest a fresh batch of inflation data. 

The December consumer price index (CPI) showed prices rising 2.7% annually -- in line with estimates -- while core CPI data saw a smaller-than-expected jump. This inflation reading provided little direction on whether it would encourage the Federal Reserve to lower interest rates. Central bankers also continued to show support for Fed Chair Jerome Powell amid news of his criminal investigation.

• More short covering could be ahead, per Senior V.P. of Research Todd Salamone.
• Unpacking Walmart stock's record-breaking session.
• Plus, JPM higher after earnings; INTC upgraded; and airline issues dismal guidance.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw over 1.9 million call contracts and more than 1.3 million put contracts traded on Monday. The single-session equity put/call ratio rose to 0.66, while the 21-day moving average remained at 0.58.
2. JPMorgan Chase & Co (NYSE:JPM) stock is up 0.3% ahead of the open, after the bank beat earnings estimates for the fourth quarter. The company also announced a $7.9 billion stock repurchase program. JPM sports a 35.2% year-over-year lead.
3. Intel Corp (NASDAQ:INTC) stock is 4.4% higher before the bell, on the heels of an upgrade from KeyBanc to "overweight" from "sector weight," to go with a $60 price target. The analyst in coverage noted strong demand from the cloud sector. INTC has added 130.1% in the last 12 months.
4. Shares of Delta Air Lines Inc (NYSE:DAL) are 3.9% lower in electronic trading, brushing off a fourth-quarter earnings and revenue win after the travel giant also issued a disappointing full-year outlook. Over the last nine months, DAL has added 76.3%.
5. More earnings and economic data coming this week. 

European Markets Mixed Amid Stateside Fed Drama

Asian bourses pushed higher today while oil prices and ongoing protests in Iran are still on everyone’s radar. Japan’s Nikkei led the charge with a 3.1% gain thanks to a 4.3% move from SoftBank, although the yen weakened marginally to another 12-month low. A snap election is looming in February, after Japan’s ruling Liberal Democratic party moved to dissolve the Lower House. Hong Kong’s Hang Seng rose 0.9%, following GigaDevice Semiconductor’s 50% jump in its Hong Kong debut. South Korea’s Kospi added 1.5%, while China’s Shanghai Composite dipped 0.6%.

European markets are a mixed bag today, as the investigation on Fed Chair Powell remains in focus and earnings season kicks off. At last look, London’s FTSE 100 is flat, while the German DAX is marginally higher, and the French CAC 40 dips 0.3%.