US pre-open: Futures lower following CPI reading
By Iain Gilbert
Date: Thursday 12 Dec 2024
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Thursday as traders looked ahead to additional inflation data.
As of 1230 GMT, Dow Jones futures were down 0.12%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.16% and 0.32% softer, respectively.
The Dow closed 99.27 points lower on Wednesday as investors digested last month's consumer price index report, which was in line with estimates, underscoring the belief that the Federal Reserve will likely lower its benchmark interest rate at the conclusion of its two-day policy meeting next week.
Tuesday's primary focus will be last month's producer price index at 1330 GMT, with economists expecting to see a 0.2% month-on-month increase in the headline PPI.
Elsewhere on the macro front, weekly jobless claims data from the Labor Department will be published at 1330 GMT.
In the corporate space, shares in software giant Adobe traded lower in pre-market on the back of softer-than-anticipated Q4 revenue guidance.
Still to come, chipmaker Broadcom and retailer Costco will both report earnings after the close of trading.
Reporting by Iain Gilbert at Sharecast.com
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