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As Wall Street Prepares for a Significant Inflation Data, Stock Futures Barely Moved

As Wall Street prepared for the release of April’s consumer price index, stock futures saw minimal movement on Wednesday.

While S&P 500 and Nasdaq-100 futures remained close to the flatline, futures linked to the Dow Jones Industrial Average gained 14 points. The CPI report will be made available at 8:30 a.m.

Eastern Time. When food and energy are taken out of the equation, economists surveyed by Dow Jones predict that the consumer price index will rise by 0.3% per month and by 0.4% overall.

The headline CPI is expected to rise by 3.4% year over year by economists, which comes after a 3.5% increase in March. The information follows a report suggesting stickier inflation.

A 0.5% increase in the producer price index in April exceeded forecasts, sparking fears that the Federal Reserve may postpone rate decreases.

Source (CNBC)

SourceCNBC
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