US Jan. Core PCE Meets Expectations, Three Major US Stock Index Futures Rise; Bitcoin Returns to $73,000. Driving Related Concept Stocks to Rise

TradingKey - As of 9:25 AM ET, the latest data shows that the U.S. core PCE price index for January grew at a year-on-year rate that largely met market expectations, easing investor concerns over rising inflation and pushing U.S. stock futures higher in pre-market trading.

As of press time, S&P 500 futures, Nasdaq 100 futures, and Dow Jones Industrial Average futures all rose to varying degrees, indicating a positive market reaction to the inflation data. As a key inflation gauge for the Federal Reserve, the core PCE reading's alignment with expectations was viewed by some investors as a sign that inflationary pressures are not showing new signs of deterioration.

The Magnificent Seven (MG7) saw nearly broad gains in pre-market trading, with Nvidia rising nearly 1%, Apple gaining over 0.3%, Microsoft up nearly 0.2%, Tesla rising over 1%, Amazon up over 0.4%, and Google climbing over 1%, while Meta fell more than 1%.

Simultaneously, the crypto asset market also strengthened. The price of BTC climbed back above the $73,000 mark, hitting a new high in its recent rebound. Market participants believe that the lack of a significant upside surprise in inflation data has kept investors optimistic about the liquidity environment, thereby driving a broad rally in risk assets.

Driven by this momentum, several crypto-related stocks rose collectively in pre-market trading, with companies such as MicroStrategy, Coinbase, and Marathon Digital Holdings all seeing significant share price gains.

Analysts pointed out that against a backdrop where macro data has not significantly disrupted market expectations, capital risk appetite has recovered. However, given the ongoing uncertainty in the geopolitical situation, investors will continue to closely monitor subsequent inflation data and Federal Reserve policy signals for their further impact on market sentiment.