S&P 500 and Nasdaq rise today after weak CPI; tech reacts with Micron.

• S&P 500 rises today as CPI falls below expectations in November.
• Nasdaq futures attempt to recover from recent decline in the technology sector.
• The Fed may bring forward cuts if the labor market weakens.

U.S. stock futures were trading higher on Thursday, with investors seeking relief after recent pressure on technology stocks. The movement gained momentum with the perception that inflationary pressures have eased, which helps to calibrate expectations about the direction of interest rates.

In pre-market trading, S&P 500 futures were up around 0,6%, while Nasdaq 100 futures advanced about 1%. Dow Jones Industrial Average futures were up nearly 0,3%, reflecting a more moderate recovery in traditional sectors.

Interest focused on the November Consumer Price Index (CPI) reading, which came in below projections in some segments. Year-on-year inflation was 2,7%, while core inflation stood at 2,6%. The initial reaction was one of stability, but the reading reinforced the idea that disinflation remains on the radar, directly impacting market bets on the Federal Reserve's next steps.

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Analysts also drew attention to factors that may have increased uncertainty in the composition of the data. Economists observed that some metrics may have become less consistent due to the US government shutdown, which affected data collection routines and release schedules. One point cited was the absence of monthly comparisons in a report that had originally been scheduled for December 10, following disruptions related to CPI data collection in October.

Meanwhile, the Federal Reserve's focus seems more sensitive to the pace of employment than to a strong recovery in inflation. On Wednesday, Fed Chairman Chris Waller indicated openness to interest rate cuts even before the CPI update, a signal that helped sustain risk appetite on Wall Street.

In the technology sector, the attempted recovery came after a difficult session, influenced by concerns surrounding AI-related trade and its effects on large companies in the segment. In this context, Micron helped boost market sentiment, rekindling demand for technology stocks and supporting the advance of Nasdaq futures.