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US equity index futures are pointing to a higher open as of 8:10 AM ET as the world awaits US CPI for July due out at 8:30. Weekly Jobless Claims are also due out at the same time. As highlighted yesterday, YoY CPI is set to end a streak of twelve monthly declines in a row.
Yesterday, the Nasdaq 100 closed below its 50-day moving average for the first time in 103 trading days. Going back to 1985 when this index began, there have only been ten other streaks of 100+ trading days of closes above the 50-DMA, with the last occurring in mid-2020.
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