Stock market news live updates: Stock futures mixed before key inflation report
source link: https://finance.yahoo.com/news/stock-market-news-live-updates-june-10-2022-111928913.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Stock market news live updates: Stock futures mixed before key inflation data
- ^GSPC-2.38%
- ^IXIC-2.75%
- +0.15%
- -2.38%
- -9.33%
- -2.68%
- -1.94%
U.S. stock futures struggled for direction Friday morning as investors awaited an update on inflation, which is expected to hover near a 40-year high amid elevated prices for gas, food and a variety of other goods and services.
Contracts on the S&P 500 and Dow were each off by about 0.2% in pre-market trading. Nasdaq futures traded flat to slightly higher. Treasury yields rose along the short-end of the curve, while the benchmark 10-year yield steadied around 3.03%. U.S. crude oil prices rose 0.7% to trade above $122 per barrel, holding near the highest level since March.
For market participants, the Bureau of Labor Statistics' 8:30 a.m. release of the Consumer Price Index (CPI) will be a key print, offering a fresh look at the extent to which price increases have persisted across the U.S. economy. Consensus economists are looking to see inflation rose 8.3% year-on-year in May, according to Bloomberg, matching April's clip and coming in just a hair below March's more than 40-year high rate of 8.5%.
CPI is also likely to accelerate to a 0.7% month-over-month clip in May from April's 0.3% rise, tracking a surge in gas prices heading into the summer travel season. Core inflation, which excludes volatile food and energy prices, is expected to edge down only modestly to a 5.9% annual gain from April's 6.2%.
Inflation has remained a dominant issue for investors, policymakers and the American public this year. Higher prices have threatened to weigh on consumer spending — the key driver of U.S. economic activity — as goods and services become increasingly unaffordable. And inflation has already shown signs of triggering a rotation from spending on some discretionary goods to other purchase areas.
And for investors, inflation has also become a key determinant in the path forward for the Federal Reserve's monetary policies. As the Fed aims to help bring down fast-rising prices, the central bank is widely expected to raise interest rates by another half-point at next week's policy-setting meeting, further increasing the cost of borrowing and doing business for companies.
Recommend
-
9
-
13
Inflation won’t peak until oil prices ‘roll over,’ economist says
-
8
U.S. stock futures slide more than 1% on rampant inflation, recession worries Friday, September 23, 2022 9:20 am
-
10
September PPI data surpasses expectations Producer price index increased 0.4%
-
6
Fed has to ‘act tough’ until inflation comes down, strategist says
-
7
Yahoo Finance LIVE - Oct 27 AM
-
5
11:32...
-
4
11:32...
-
13
11:32...
-
10
11:32...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK