US equity futures ease further ahead of US PPI
US equity futures were mostly lower as markets refrained from assuming more risk ahead of the US PPI release. S&P 500 contracts inched down and Nasdaq fell 0.7%, while the Dow was flat.
US equity futures were mostly lower as markets held back on risk before the US PPI release. 7%, and the Dow was unchanged. 4% in August from the prior month, with the war in Iran lifting wholesale energy prices. Oil and fuel benchmarks have climbed further since the start of September on renewed escalation in the war and increased buying from Asia, adding pressure on equities.
Chip makers fell on exposure to long-dated credit costs, with Marvell, Intel and Lam Research down 3% in premarket trade. Nvidia slipped 1%, and Oracle fell 1% ahead of earnings after the bell.