NewsWare’s Trade Talk: Thursday, January 12

S&P Futures are moving between gains and losses this morning ahead of this morning's CPI release. Expectations are for the annual consumer-price inflation to have slowed to 6.5% in December from 7.1% in November. FOMC officials are paying close attention to this morning's release as they prepare for the upcoming FOMC meeting at the end of the month. Traders are placing a 78% probability on the Fed raising its benchmark rate target by a quarter of a percentage point to a range between 4.5% and 4.75%. In Asia, stocks were flat to higher, and European indexes are trading higher in anticipation of this report.