Wednesday morning saw a decline in U.S. stock futures as Wall Street awaited the most recent consumer price index data to gain insight into the rate of inflation.
Futures linked to the Dow Jones Industrial Average fell 0.22%, or 100 points. Futures for the S&P 500 dropped 0.21%, while those for the Nasdaq 100 sank 0.31%.
As the market paused its postelection surge, the major averages experienced a decline during Tuesday’s main trading session.
The Dow’s 30-stock index dropped almost 382 points, or 0.9%. In contrast, the tech-heavy Nasdaq Composite slipped 0.1%, while the S&P 500 fell 0.3%.
A portion of the market fall Tuesday is really a small amount of profit-taking due to the significant gains, particularly after the election, and some of it might be merely some positioning in advance of tomorrow’s inflation report and the retail sales data released on Friday,” stated Tom Hainlin, U.S. Bank Wealth Management’s senior investment strategist.
Source (CNBC)
