Wall Street stocks surged on Tuesday as investors eagerly awaited the release of the latest inflation data. The Nasdaq Futures edged higher and the S&P 500 Futures rose by 0.3% as of 9:30 a.m. ET.

The U.S. Department of Labor is expected to release its Consumer Price Index (CPI) data for February later today. The data will provide insight into the current inflation rate and how it is impacting the economy.

Wall Street trading desks have been mapping out different scenarios for the CPI data. Analysts expect that inflation will remain low, with little change from the previous month. U.S. dollar traders have been subdued as inflation expectations remain little changed.

The Wall Street Journal reported that U.S. stocks advanced on Tuesday as investors awaited the inflation data. The Dow Jones Industrial Average rose by 0.4%, the S&P 500 gained 0.6% and the Nasdaq Composite rose by 0.8%.

Investors are hoping that the CPI data will provide clarity on the current state of the economy. Low inflation can be a sign of economic weakness, while higher inflation can indicate economic growth.

The inflation data is expected to be released at 8:30 a.m. ET. Investors will be closely watching the data to see how it impacts the stock market.