U.S. stock futures flat in wake of nearly 1,300-point skid on Tuesday
U.S. stock index futures slipped on Wednesday, after seeing the worst daily losses in two years as investors reeled from disappointing consumer inflation data. Markets will get another data update with producer price inflation data due ahead of the open.
What’s driving the markets? Investors were seeking some equilibrium ahead of data on August producer price inflation, due at 8:30 a.m. Eastern, which are expected to show a drop of 0.1% following last month’s decline of 0.5%. Investors dumped stocks on worries sticky inflation could force the Federal Reserve to keep its aggressive tightening of monetary policy for longer. Some have predicted the Federal Reserve could next week raise interest rates by as much as 1%.
“This means flatter curves, and higher yields. 10Y Treasurys are now within touching distance of their 3.47% June peak and we do not see much that would stop it from beating that level,” said Bouvet.
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