Traders Digest Consumer Inflation Measure as US Equity Futures Drop Pre-Bell

MT Newswires Live2024-10-10

US equity futures were cautiously lower ahead of Thursday's opening bell as traders digested the consumer inflation report.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures declined 0.3% and Nasdaq futures were down 0.4%.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $77.56 per barrel and US West Texas Intermediate crude up 1.3% at $74.22 per barrel.

Consumer prices, released at 8:30 am ET, rose 0.2% in September to match the prior month's increase, compared with estimates compiled by Bloomberg for a smaller 0.1% gain. Core prices rose 0.3%, also matching August's gain and higher than estimates for a 0.2% increase.

New unemployment claims rose to 258,000 in the week ended Oct. 5 from 225,000 in the preceding week, compared with estimates for 230,000 claims.

In other world markets, Japan's Nikkei closed 0.3% higher, Hong Kong's Hang Seng ended 3% higher, and China's Shanghai Composite finished 1.3% higher. Meanwhile, UK's FTSE 100 slipped 0.05%, and Germany's DAX index fell 0.1% in Europe's early afternoon session.

In equities, shares of Tempest Therapeutics (TPST) were 25% higher pre-bell after the company secured a deal with Roche to advance a treatment candidate for a form of liver cancer and extended a limited duration shareholder rights plan. GXO Logistics (GXO) shares rose 10% after a Bloomberg report that the company is exploring a potential sale.

On the losing side, 10X Genomics (TXG) shares slumped 27% after the company reported preliminary Q3 sales that trailed analysts' projections.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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