us stock futures surged on wednesday after the consumerprice index for june showed prices rose by the smallest amount since august 2021 meanwhile treasury yields and the us dollar declined as traders’ expectations for another interestrate hike later this year diminished according to the cme’s fedwatch tool sp 500 futures es00 were up 35 points or 08 at 450725 dow jones industrial average futures ym00 rose by 189 points or 06 to 34653 nasdaq 100 futures nq00 were up 141 points or 09 to 15402 treasury yields particularly on the short end of the curve came down in the wake of the data with the 2year yield of 14 basis points at 4750 the euro eurusd rose 05 against the us dollar to trade at 11061 headline and core cpi declined 02 in june lower than economists’ expectations of 03 it marked the smallest monthly reading since august 2021 on a 12month basis core cpi which excludes volatile food and energy prices rose by 48 lower than expectations for 5 fedwatch shows traders see another fed rate hike in july as a virtual certainty with odds just shy of 90 as of wednesday morning however chances of a second hike later this year have fallen