US pre-open: Futures little changed ahead of PPI reading
By Iain Gilbert
Date: Thursday 13 Feb 2025
(Sharecast News) - Wall Street futures were little changed ahead of the bell on Thursday as traders awaited last month's producer price index and digested further tariff headlines.
As of 1230, Dow Jones futures were flat, while S&P 500 futures were down 0.07% and Nasdaq-100 futures had the index opening 0.04% firmer.
The Dow closed 225.09 points lower on Wednesday after the latest set of monthly consumer inflation figures came in hotter than expected.
Trade Nation's David Morrison said: "Stock indices plunged yesterday after the latest US inflation update. All CPI numbers, headline, core, year-on-year and month-on-month, came in above expectations and were higher than last month's readings. The news triggered a sharp sell-off across all the major stock indices.
"It was a similar story across the other majors. All the indices subsequently bounced to end the session with modest losses. Now the focus moves to today's PPI update which is a measure of wholesale inflation."
Heightened were also in focus early on Thursday, with Donald Trump set to impose reciprocal tariffs on imported goods from countries that have placed levies on US-made products. "Three great weeks, perhaps the best ever, but today is the big one: reciprocal tariffs," he posted on Trump Media & Technology's own social networking platform.
In addition to January's PPI update, weekly jobless claims data will also be published at 1330 GMT.
In the corporate space, shares in trade bellwether Deer & Co headed south after it warned of declining sales, while shares in footwear business Crocs traded higher on the back of solid FY25 profit guidance.
Palo Alto Networks and Airbnb will publish their latest quarterly earnings statements after the close.
Reporting by Iain Gilbert at Sharecast.com
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