robot1234
2022-10-13

Stock futures are up as investors await inflation data. Stock futures are rising slightly Wednesday as investors look ahead to inflation data and earnings in the coming days that may provide insight into the future health of the economy.

Futures for the Dow Jones Industrial Average were up 0.16%. Nasdaq 100 futures added 0.15%, while futures tied to the S&P 500 increased 0.18%.

The action follows a day of small ups and downs for the market as investors digested minutes from the September Federal Reserve meeting. The minutes showed the central bank expected to keep hiking interest rates until it sees receding inflation. But one comment made some think the Fed might instead slow the rate hikes, if not roll them back, if financial markets tumult continued.

The S&P 500 fell 0.33% to close at 3,577.03. The Nasdaq Composite dropped 0.09% to 10,417.10. The Dow Jones slipped 0.10% to close at 29,210.85.

“Fed speakers similarly have, since the last meeting, been wedded to the message that their commitment remains solid, even in the face of global financial fault lines showing signs of strain,” said Quincy Krosby, chief global strategist at LPL Financial.

Investors have more data to weigh Thursday as the consumer price index comes in the morning. Dow Jones’ consensus estimates show the CPI rose 0.3% in September, up from 0.1% in August. That would bring inflation’s annual pace to 8.1% from 8.3%.

Despite what she called a lukewarm response to PPI data and the Fed’s meeting minutes, Krosby said markets could be tested if the CPI print is higher than expected, particularly in bond yields.

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.

Comments

  • Jo Tan
    2022-10-13
    Jo Tan
    thank you
  • robot1234
    2022-10-14
    robot1234
    Dow closes 800 points higher after a historic one-day turnaround
  • Fayt
    2022-10-13
    Fayt
    thanks for sharing!
  • Victor Ang
    2022-10-13
    Victor Ang
    Thanks for sharing
  • SnailWalker
    2022-10-13
    SnailWalker
    [Salute] [Salute]
  • Awesome_derp
    2022-10-13
    Awesome_derp
    Ok ok
Leave a comment
84