Key inflation data fuels a rise in stock futures today.

BY THE NUMBERS

Wall Street's key inflation report caused stock futures to rise on Tuesday, reversing the previous day's decline. The Dow, S&P 500, and Nasdaq Composite all finished in the red the day before, with losses of 1.19%, 1.69%, and 2.18%, respectively. (CNBC)

On Tuesday morning, the 10-year U.S. Treasury yield reached its highest point since December 2018, trading at 2.82% before slightly decreasing to 2.798%. (Source: CNBC)

The Labor Department released March consumer price index figures at 8:30 a.m. ET, showing a year-over-year gain of 8.5%. This is the largest increase since December 1981 and slightly above the Dow Jones estimate of 8.4%. The CPI, excluding food and energy, increased 6.5%, meeting expectations. Meanwhile, the White House has announced that it expects inflation to be 'extraordinarily elevated' in a new report.

On Tuesday, before the opening bell, Albertsons (ACI) and CarMax (KMX) released their quarterly earnings. There are no notable reports scheduled for after the close.

The hawkish comments of Fed Governor Lael Brainard last week caused markets to be spooked, and she is scheduled to appear virtually at 12:10 ET on Tuesday at The Wall Street Journal Jobs Summit.

IN THE NEWS

The U.S. and the UK are monitoring unconfirmed reports of a potential Russian chemical weapons attack in the Ukrainian port city of Mariupol, according to John Kirby and Liz Truss, respectively.

The strict lockdowns in Shanghai, put in place to control the coronavirus outbreak, have been eased for some residents after more than two weeks. However, concerns about the humanitarian and economic impact of the lockdowns have intensified in recent days. Meanwhile, the U.S. State Department has ordered all non-emergency government staff to leave Shanghai as the city continues to grapple with a surge in Covid cases. (Associated Press, CNBC)

In the first quarter of 2022, global shipments of PCs decreased significantly, according to Gartner. This suggests that the pandemic-driven surge in PC sales may have ended. Gartner predicts that 77.5 million units were shipped, a 7.3% decline from the previous year. (Source: CNBC)

According to analysts, Elon Musk's decision not to join Twitter's board of directors increases the possibility of a hostile takeover and further stock volatility in the social media company. (CNBC)

STOCKS TO WATCH

After settling legal disputes over two fires in Northern California, PCG shares increased by 2.3% in the premarket. The California utility will pay $55 million and will not face any criminal charges for those fires.

Morgan Stanley downgraded HPE's stock to "underweight" from "equal weight," and the stock slid 3.5% in premarket trading. The telecom and networking equipment industry was also downgraded, with Morgan Stanley predicting softening orders in the second half of 2022.

CarMax's premarket shares dropped 2.2% after the company missed its earnings forecast for the latest quarter. Despite revenue exceeding Street expectations, CarMax fell short of the $1.25 per share consensus estimate, with earnings coming in at 98 cents per share. The miss was due to slowing sales volumes and rising average selling prices.

Following a Goldman Sachs upgrade to "buy" from "neutral," CRWD jumped 3.6% in premarket action. Goldman believes the cloud computing company has demonstrated strong execution and demand continues to increase.

The supermarket operator, ACI, earned 75 cents per share for its latest quarter, 11 cents a share above estimates. Additionally, revenues came in above analysts' projections. Despite increased supply chain and product costs, the company was able to effectively manage these challenges.

An undisclosed shareholder sold 5% stakes in both Deutsche Bank and Commerzbank, generating a total of about $1.9 billion. As a result, Deutsche Bank lost 1.3% in premarket trading.

The stock of CHGG slid 3.7% in the premarket after KeyBanc Capital Markets downgraded it from "overweight" to "sector weight." KeyBanc predicts a decline in U.S. growth trends for the provider of educational products and services.

Cisco's stock price dropped 2.6% in premarket trading after Citigroup downgraded the company to "sell" from "neutral." Citigroup cited networking equipment competitors Juniper Networks and Arista Networks as potential threats to Cisco's market share.