As investors awaited the release of the consumer price index for additional information on inflation, U.S. stock futures showed minimal movement Wednesday morning.
The Dow Jones Industrial Average futures dipped 30 points, or 0.1%, in price. Nasdaq 100 futures down 0.11%, while S&P 500 futures fell 0.08%.
During Tuesday’s primary trading session, all of the major averages experienced losses. As pressure mounted on tech stocks, the Nasdaq Composite was particularly heavily impacted, falling 1%. While the Dow decreased by less than 0.1%, the S&P 500 dropped by almost 0.6%. The indices were negatively impacted by Apple’s 1.7% decline, while Oracle saw its worst day in more than 20 years as a result of weak forecast and poor revenue.
The August CPI report, which is due Wednesday morning, is now the focus of Wall Street. According to Dow Jones, economists predict that inflation will increase by 3.6% from one year to the next. This would represent an improvement above the 3.2% reading from the previous month. The core CPI, which excludes food and energy prices because of their volatility, is anticipated to have increased 4.3% in August as opposed to a 4.7% increase in July.
Source (CNBC)
