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)
