Stock futures fall ahead of big inflation report
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Loading... - Colin Drakos
- 12 Apr 2022
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U.S. stock futures declined in early morning trading as investors braced for a key inflation report Tuesday.
Futures on the Dow Jones Industrial Average dropped 131 points or 0.38%, while S&P 500 futures shed 0.4% and Nasdaq 100 futures dipped 0.29%.
The overnight moves come as investors await the release of March’s highly anticipated consumer price index on Tuesday. The data is expected to show an 8.4% annual increase in prices — the highest level since December 1981 — according to economists polled by Dow Jones, with rising food costs, rents and energy prices expected as the main contributors to the spike.
“I think by the summer we’ll probably see the CPI inflation rate peaking and then the consumption deflator is going to peak somewhere between 6 and 7% and then come down to maybe 3 to 4% by the second half of the year going into next year,” Ed Yardeni, president of Yardeni Research told CNBC’s “Closing Bell: Overtime” on Monday.
During regular trading on Monday, the Dow Jones Industrial Average fell 413.04 points, or 1.19%, to 34,308.08, while the S&P 500 dropped 1.69% to 4,412.53. The tech-heavy Nasdaq Composite sank 2.18% to 13,411.96.
All 11 sectors ended the day in the red, with technology facing the brunt of the losses as investors continued to search for stability. Microsoft fell nearly 4%, while semiconductor Nvidia dropped more than 5%. Read More...
