Nasdaq Futures Fall 0.49% Before Open After U.S. Inflation Tops Forecasts

Key Facts

Nasdaq futures fell 0.49% before U.S. trading opened on October 14, 2026, after September inflation data exceeded expectations, according to an update from StoneX. The move came on the day consumer prices were reported to have risen at a faster pace on both headline and core measures, with annual readings exceeding the firm's estimates. Fiona Cincotta noted the decline in futures in an analysis published by StoneX that day, before the U.S. session began. At the close, the Nasdaq Composite ended trading down 1.9%, according to the Associated Press, as artificial intelligence industry stocks led the decline. The agency said stocks came under pressure from rising bond market yields following the inflation report, with equities falling as bond yields climbed during the session in which the data were released.

The U.S. Consumer Price Index rose 3.7% in September from the same month a year earlier, according to the Associated Press. Forecasts cited by StoneX pointed to an annual reading of 3.6%, putting headline inflation above estimates. The reading followed an annual increase of 3.4% in August, according to the U.S. Bureau of Labor Statistics, also placing September's increase above the previous month's level. On a monthly basis, the bureau reported a seasonally adjusted increase of 0.6% in the headline index in September, compared with a seasonally adjusted rise of 0.4% in August. Monthly price growth thus accelerated alongside the annual pace, while the upside surprise in the headline reading was accompanied by core inflation also exceeding estimates.

Gasoline was a major driver of the monthly increase in consumer prices, with prices rising 9.1% in September, according to the U.S. Bureau of Labor Statistics. The bureau said the jump accounted for "more than half of the monthly increase in the headline index," making its contribution the largest share of the month's rise. The acceleration in inflation extended to the core index, which excludes food and energy prices, with its annual increase reaching 2.6%, according to the Associated Press. That compared with an annual increase of 2.4% in the previous month and exceeded the September forecast of 2.5% cited by StoneX. On a seasonally adjusted monthly basis, the core index rose 0.3%, according to the Bureau of Labor Statistics, compared with expectations for a 0.2% increase reported by StoneX. Gasoline's large contribution to the rise in the headline index was thus accompanied by an increase in prices excluding food and energy that also exceeded monthly and annual expectations.

The next milestone for U.S. monetary policy is the Federal Reserve's Federal Open Market Committee meeting scheduled for October 27–28, according to the central bank's calendar. The meeting follows the release of September readings showing headline and core inflation accelerating from August and exceeding annual forecasts. The next consumer price report will cover price developments in October 2026, according to the U.S. Bureau of Labor Statistics release calendar. The bureau scheduled its publication for November 10, 2026, at 08:30 a.m. U.S. Eastern Time. Based on the sequence of the announced dates, the Fed's October meeting will take place before the release of that month's inflation report, while September's readings will have preceded the meeting.