As investors turned their attention to the August consumer inflation report, U.S. stock futures fell on Wednesday.
Futures for the Dow Jones Industrial Average dropped 100 points, or around 0.3%. Futures for the Nasdaq 100 and S&P 500 both fell by roughly 0.1%.
The extent of a widely anticipated rate decrease at the conclusion of the Federal Reserve’s two-day meeting on September 18 could be determined by the CPI report and Thursday’s producer price index.
Dow Jones poll of economists, the headline CPI increased 2.6% from a year ago and by 0.2% from the previous month.
Based on Fed funds futures trading, there is a 69% probability of a 25 basis point rate decrease and a 31% chance of a 50 basis point reduction.
Source (CNBC)
