U.S. stock futures wobbled Wednesday ahead of key inflation data and a vote by lawmakers on impeaching President Trump during his final week in office.
Futures tied to the S&P 500 and the Dow Jones Industrial Average wavered between gains and losses, suggesting that both indexes may be choppy after the opening bell. Nasdaq-100 futures were also flat.
Stocks have drifted lower this week after notching record highs in early January as investors weighed the prospect of fresh government spending against political turmoil in Washington and still rising Covid-19 cases. Energy and banking are among the best performers so far in the new year as investors bet on companies that fared poorly in 2020 and are likely to benefit as the economy recovers.
“Markets are going to remain choppy for a while, but through it all, we remain cautiously optimistic,” said Altaf Kassam, head of investment strategy for State Street Global Advisors in Europe. “The amount of fiscal stimulus that is possible will protect risky assets, and there is still a lot of cash on the sidelines.”
U.S. inflation data, set to be released at 8:30 a.m. ET, is likely to show that consumer prices increased only moderately last month, reflecting weak demand for a range of goods and services. Some economists expect inflation to pick up the pace as the economy grows faster later this year.
U.S. Stock Futures Waver Ahead of Inflation Data Source link U.S. Stock Futures Waver Ahead of Inflation Data