U.S. Stock Futures Lower – Investors Wait for CPI Report
U.S. stock futures were generally lower than expected. According to the data, consumer price inflation remained at a 40-year high in January. Revenue reports for Coca-Cola and Twitter were ahead. Shares of Walt Disney have risen according to the results of the entertainment giant. S&P 500 Index futures ES00, -0.01% fell less than 4.573.25 percent. Dow Jones Industrial Average futures YM00, up 0.21% to 0.1% at 35.704. Nasdaq-100 futures NQ00, -0.10% fell to 14,996, totaling 0.3%.
Dow industrials closed at 305.28 points, up to + 0.86% overall; It rose to 35,768 on Wednesday. The S&P 500 SPX gained + 1.45% to a total of 4,587.18. Nasdaq Composite COMP, + 2.08% dominated by growth. This marks its best daily percentage increase since January 31st. On Thursday, some nervousness returned to the markets; U.S. consumer price inflation data came in. Bond yields rose again, with a 10-year Treasury bond.
Economists forecast that consumer prices will rise by 7.2% year-on-year in January. In December, annual growth of 7% was the highest rate in 40 years. Some experts expect inflation to be even higher, at around 7.6%. U.S. bond market volatility will return; Given the long series of shocks that have boosted the Fed rate expectations for this year; The slightest “miss” descent can have more of an impact than a modest ascending surprise.
Higher-than-expected inflation could put pressure on; Especially on stock-sensitive technology stocks. The Nasdaq Composite experienced the most significant percentage drop; For almost two years last month and the worst January due to more than a decade of inflation and tightening monetary policy by the Federal Reserve.
U.S. Stock Futures
According to the key rate, the U.S. monthly CPI should increase by 0.4%. At the same time, the weekly unemployment claims may end. Twitter rose + 5.14%; PepsiCo shares fell -0.05%; Philip Morris International + 0.24% added.
Shares of Disney + 3.33% rose 7% after the entertainment giant announced record revenue; Specifically more than $1 billion in profits. The company added more streaming subscribers than expected over the holidays, and park profits increased. Twillio rose 19% after the cloud communications software group released a strong prospect of profit and sales; Which exceeded Wall Street estimates. Shares of UBER increased 4%.
The ICE US dollar index was 0.05%, measuring the currency against a basket of six major competitors, modestly high. West Texas Intermediate was up 0.8% at a total of $90.39 a barrel. Gold futures fell to $1,834.10. Bitcoin grew 0.5% and traded close to $44,743. Stoxx 600 Europe increased by 0.1%. Shanghai Composite rose 0.1%. Hang Seng Index added 0.3%; The Nikkei 225 grew 0.4%.
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