us stock futures advanced thursday ahead of the week’s big event the release of inflation data on wednesday the dow jones industrial average djia fell 28 points or 01 to 29211 the sp 500 spx declined 12 points or 033 to 3577 and the nasdaq composite comp dropped 9 points or 009 to 10417 the sp 500 has dropped 25 this year as investors react to an aggressiverate hike campaign from the federal reserve consumer price data is set for release at 830 am eastern with expectations of a 03 monthly rise that will reduce the yearoveryear inflation rate to 81 from 83 core cpi is seen posting a 04 monthly gain “this promises to be quite a momentous occasion as these numbers may hold the key for the performance of the us dollar and also provide direction for the wider financial markets” said ricardo evangelista senior analyst at activtrades six of the eight cpi readings this year have topped expectations noted michael brown senior market analyst at caxton heading into the data fed funds are pricing in an 83 probability of a 75 basis point rate hike at the next federal open market committee data according to the cme fedwatch tool the yield on the 10year treasury tmubmusd10y was steady at 391