Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Stock futures are muted ahead of key inflation data

by
November 10, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

U.S. equity futures were little changed early Wednesday morning as investors await key data that’ll be the next big indicator of how much rising price pressures are accelerating.

Dow Jones Industrial Average futures dipped 5 points. S&P 500 futures and Nasdaq 100 futures both hovered above the flatline.

RELATED POSTS

‘The Big Short’ investor Michael Burry thinks financial markets rout is only halfway through

Wealthy customers will help Apple resist the effects of inflation

In regular trading Tuesday, the Dow lost about 0.3% to close at 36,319.98. The S&P 500 fell 0.4%, snapping an eight-day win streak, and the Nasdaq Composite fell 0.6%.

Tesla shares ended nearly 12% lower in Tuesday trading, extending Monday losses.

“The weakness in Tesla (which is largely technical, not fundamental) is also weighing on the consumer discretionary sector within the S&P 500 today, and the October PPI may also be doing so as business input prices continue to rise,” Goldman Sachs’ Jeff Currie said in a note Tuesday. “The prospect of Covid transforming from pandemic to endemic, and the potential for supply chain congestion to moderate are all likely to continue to drive growth, albeit more slowly,” Currie added.

On Tuesday morning, the Labor Department reported a 0.6% increase in the October producer price index, which is in line with the Dow Jones consensus estimate. Wholesale prices jumped 8.6% in October from a year ago, however, the hottest annual pace on record in almost 11 years.

“Investor worries came to the fore again today,” Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company, told CNBC. “The inflation narrative is still out there and needs to be resolved. We think investors will see inflation abate in the coming months as the Fed remains accommodative, people come back into the workforce and consumers shift from buying goods to services… and we expect that will pull the market higher as we move toward the end of the year.”

Investors are holding their breath for the latest consumer price index reading, which the Labor Department will report Wednesday before the bell. Economists expect a 0.6% increase, or a year-over-year gain of nearly 6%, which would be the most in 30 years. They expect core CPI, which excludes food and energy and is the Federal Reserve’s preferred measure of inflation, to have risen 0.4%, or 4.3% year-over-year.

Weekly jobless claims and mortgage applications to purchase a home are also due out Wednesday.

Earnings season continues to be strong, with most of the S&P 500 companies who have already reported beating estimates, according to FactSet. Disney, Affirm, Bumble and The Honest Company are all scheduled to report Wednesday after the bell.

ShareTweetPin

Related Posts

‘The Big Short’ investor Michael Burry thinks financial markets rout is only halfway through

by
July 1, 2022
0

"The Big Short" investor Michael Burry, known for calling the subprime mortgage crisis, warned investors that 2022's market turmoil is...

Wealthy customers will help Apple resist the effects of inflation

by
July 1, 2022
0

An employee arranges Apple iPhones as customer shop at an Apple store. Mike Segar | Reuters The last time Apple...

Chinese purchase of North Dakota farmland raises national security concerns in Washington

by
July 1, 2022
0

Farmland in southern North Dakota near Bismarck on September 2, 2016. Robyn Beck | Afp | Getty Images At first...

Ohio Governor DeWine says Intel delay on $20 billion chip plant is about ‘leverage’

by
July 1, 2022
0

In this article INTC Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that...

The IPO market is hibernating, waiting for the market to turn

by
July 1, 2022
0

You think the stock market had a bad quarter? The IPO market was a catastrophe, and it's not looking much...

Next Post

Stock futures are lower ahead of key inflation data

Google loses antitrust battle with EU as court upholds 2017 order to pay $2.8 billion fine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net