[New York Pre-Market Check] Focus on U.S. February CPI Release... Continued Market Policy Pressure

# New York Markets Await February CPI Release **By Jae-Hyung Park, New York Correspondent** - As the U.S. stock market prepares for the day's opening session on Wednesday, several key issues are poised to shape investor sentiment. # February CPI in Focus Futures linked to major U.S. stock indices showed upward momentum as investors awaited the release of the latest Consumer Price Index (CPI) data. The February CPI, scheduled for 8:30 a.m. Eastern Time, is the principal focus for market participants. Economists polled by Dow Jones anticipate a 0.3% monthly increase and a 2.9% year-over-year rise in the CPI. Warren Pies, co-founder of 3Fourteen Research, noted, "We are waiting for policy responses from the Fed or the administration, but such measures may not be immediately forthcoming," recommending a cautious investment approach. # Market Pressured by Policy Uncertainty Financial markets continue to face pressure from the recent intensification of U.S. protectionist trade policies. President Donald Trump announced a doubling of tariffs on Canadian steel and aluminum products from 25% to 50%, in response to Ontario's plan to impose an additional 25% tariff on electricity exports to the U.S. However, Ontario Premier Doug Ford subsequently announced a suspension of this electricity tariff. In light of these developments, White House trade advisor Peter Navarro stated, "President Trump will not increase tariffs on Canadian steel and aluminum to 50%," but confirmed the existing 25% tariffs remain effective starting today. # Surge in Mortgage Demand Mortgage interest rates in the United States have dropped to their lowest levels since October last year, spurring a significant increase in mortgage applications. According to seasonally adjusted data from the Mortgage Bankers Association (MBA), total mortgage application volume rose by 11.2% last week compared to the previous week, continuing a strong upward trend. The average contract interest rate for 30-year fixed-rate mortgages fell to 6.67% from 6.73% the week prior, marking the lowest rate since October. Analysts predict that continued declines in mortgage rates could gradually invigorate the housing market. # Futures and Market Indicators According to CNBC data, Dow Jones futures increased by 0.62%, Nasdaq futures by 1.00%, and S&P 500 futures by 0.87%. The U.S. Dollar Index fell by 0.28% to 103.55, based on The Wall Street Journal's data. The yield on the 10-year U.S. Treasury note rose by 1.5 basis points to 4.299%, while West Texas Intermediate (WTI) crude futures climbed 0.94% to $66.87 per barrel.