Stocks Decline Pre-Bell Ahead of Key Inflation Report

07:37 AM EST, 01/13/2026 (MT Newswires) -- US equity futures were pointing lower on Tuesday as traders await a key inflation report and corporate results from a few major companies.

The S&P 500 declined 0.2%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.3% in premarket activity. The indexes finished the previous trading session in the green, with the Dow and the S&P recording fresh all-time highs.

The consumer price index report for December is scheduled for an 8:30 am ET release. Government data are expected to show that consumer inflation rose 0.3% and 2.7% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.

Treasury yields were up in premarket action, with the two-year rate gaining 0.4 basis points to 3.55% while the 10-year rate inclined 1 basis point to nearly 4.2%.

Last week, the Bureau of Labor Statistics reported that the US economy added fewer jobs than projected in December, while the unemployment rate moved down, likely supporting the case for a pause on interest rate cuts.

Federal Reserve Chair Jerome Powell disclosed on Sunday that federal prosecutors served the Fed with grand jury subpoenas threatening a criminal indictment linked to his earlier testimony regarding the multi-year renovation of the central bank's office buildings. Powell suggested that the probe reflects continued efforts by the Trump administration to influence monetary policy.

A criminal investigation into Powell is "unlikely to influence the path for US monetary policy and could even backfire by making Fed officials more reluctant to cut rates in the coming months and years," Oxford Economics said in emailed remarks to MT Newswires.

The probability of the Federal Open Market Committee keeping its benchmark interest rate unchanged later this month stood at 95% on Tuesday, according to the CME FedWatch tool.

JPMorgan Chase (JPM) reports its fourth-quarter earnings before the bell, along with Bank of New York Mellon (BK) and Delta Air Lines (DAL) . Other major Wall Street lenders such as Wells Fargo (WFC) , Bank of America (BAC) , Morgan Stanley (MS) , Goldman Sachs (GS) and Citigroup (C) are scheduled to release their results later in the week.

"This week's calendar brings the formal start of US earnings season, with major banks due to report early, potentially offering insight into credit conditions, net interest income, and guidance for 2026," Saxo Bank said in a Monday report.

In a social media post on Monday, President Donald Trump announced 25% tariffs on any country doing business with Iran, effective immediately.

Tuesday's economic calendar also has the delayed new home sales reports for September and October at 10 am. The National Federation of Independent Business small business optimism index posted a 0.5-point increase for December to 99.5.

St. Louis Fed President Alberto Musalem is slated to speak at 10 am, while Richmond Fed President Thomas Barkin speaks at 4 pm.

West Texas Intermediate crude oil rose 1.8% to $60.58 a barrel before the opening bell. Gold slipped 0.4% to $4,596 per troy ounce, while bitcoin increased 0.5% to $91,977.

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