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Equity futures vary as investors wait for major inflation reports

Commuters leaving the Wall Street subway station near the New York Stock Exchange.

Michael Neagle | Bloomberg | Getty Images

Futures contracts related to the US major stock index were mixed during early Thursday morning trading as investors focused on major inflation reports scheduled for later that day.

Dow Futures While advancing 26 points S & P 500 I sat under the flat line. Nasdaq 100 The contract was a little low.

The US market continued to trade within a tight range on Wednesday, with all three major indices closing the day within 0.5% of Tuesday’s closing price. The Dow, S & P 500 and Nasdaq Composite all fell during normal trading, ending the session further away from their respective record highs.

The S & P 500 continues to be closest to the benchmark, just 0.44% off record highs. The Dow and Nasdaq are about 2% off record.

Video game retailer inventory was seen during off-hours sessions Game stop 10% slide in expansion trading, despite the company’s announcement that it was previously tapped Amazon Executive Matt Furlong Becomes Next CEOInvestors may be disappointed by the Securities and Exchange Commission’s request for information and the submission of additional sales of up to 5 million shares to regulators.

Other themes of recent memetic trading Clean energy fuel And Clover health,was You will also be moved in an extended session.

Investors are waiting for the next reading on inflation to determine if the rise in price pressure is temporary as the economy continues to recover from the recession caused by the pandemic.

The Ministry of Labor will release consumer price index data on Thursday at 8:30 EST. Economists surveyed by Dow Jones expect the consumer price index to rise 4.7% year-on-year in May after a 4.2% rise in April.

Investors have been worried over the weeks that rising inflation could slow the Fed’s pace of asset purchases and begin suggesting interest rate hikes. Still, these concerns are premature, and some say the central bank will give enough time to get into the market.

“We believe the Fed’s easy-money policy will continue for some time,” said Scott Len, senior global market strategist at the Wells Fargo Investment Institute.

“We don’t expect the Fed to raise rates this year or next, but we think it’s likely to start suggesting that the central bank is considering curtailing bond purchases this fall.” It means that we will continue to focus on the cyclical sector, which is sensitive to the ups and downs of the economy. “

Equity futures vary as investors wait for major inflation reports

Source link Equity futures vary as investors wait for major inflation reports

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