US Premarket Update Core Inflation Hits 2.9% as Futures Dip Ahead of Key Fed Hearing

# US Premarket Update: Core Inflation Hits 2.9% as Futures Dip Ahead of Key Fed Hearing

**Note**: This analysis is generated during US premarket, markets closed but futures trading. Event times in US Eastern Time.

## Major News

Global market sentiment is mixed today as key economic indicators and political developments influence trading. U.S. futures show slight declines, with S&P 500 futures down 0.15%, Dow futures down 0.05%, and Nasdaq futures decreasing by 0.26%. Core inflation in the U.S. rose to 2.9% in July, the highest since February, which has heightened market anxiety ahead of the Federal Reserve’s decision-making regarding interest rates.

In Europe, the Euro Stoxx 50 is down 0.07%, while the DAX is up 0.32%, reflecting a divergence in sentiment. The German inflation rate unexpectedly rose to 2.1% in August, raising concerns about the impact of inflation on growth. The FTSE 100 and CAC 40 also saw minor declines.

The Nikkei in Japan edged up by 0.05%, showing resilience amidst global uncertainties.

Additionally, the end of the ‘de minimis’ exemption has sparked panic in the retail sector, while the Fed’s Waller hinted at potential rate cuts if labor market conditions worsen. Earnings reports remain pending, which could further influence market dynamics. Overall, traders are cautious as they navigate inflation data and political developments.

## Performances

### US Futures

US futures indicate opening sign for cash market.

### Major US Indices (Previous Close)

### FX Performance

### Commodities Performance

### BTC and ETH Performance

## High-Importance Economic Events

On August 29, 2025, key economic indicators influenced market sentiments, particularly concerning the SEK and EUR currencies.

Sweden’s GDP data revealed a robust annual growth of 1.4% for Q2, significantly surpassing the forecast of 0.9%. The quarterly GDP also outperformed expectations at 0.5% versus a 0.1% forecast, suggesting resilience in the Swedish economy, likely strengthening the SEK against major currencies.

In the Eurozone, German retail sales fell sharply by 1.5% in July, contrary to expectations of stability at 0.0%, indicating potential consumer weakness. Conversely, French GDP growth exceeded expectations at 0.8% YoY, compared to a forecast of 0.7%, while French CPI showed a slight miss at 0.4% MoM versus 0.5%. These mixed signals may create volatility in the EUR.

U.S. economic data also played a crucial role, with the Core PCE Price Index aligning with forecasts, while the Goods Trade Balance reported a larger deficit than anticipated at -$103.6 billion. The upcoming Chicago PMI and Michigan Consumer Sentiment surveys will further inform market expectations, particularly for the USD. Overall, today