LIVE MARKETS — S&P 500 futures red after hot CPI data pushes yields higher
US equity index futures decline September CPI MM in line with estimate, YY > estimate; core MM, YY > estimates Euro STOXX 600 index up ~0.3% Dollar rallies; US crude up >1%; bitcoin dips; gold down >1% US 10-year Treasury yield jumps to ~5.32% Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at S&p 500 Futures Red After Hot Cpi Data Pushes Yields Higher US stock futures moved into the red Wednesday morning after a mostly hotter-than-expected inflation report led investors to raise their expectations for future Federal Reserve tightening. E-mini S&P 500 futures were recently down about 0.3%, reversing from a gain of roughly 0.3% before the consumer price index (CPI) data was released. The September inflation report was generally firmer than expected. Headline CPI rose 0.6% month-over-month, matching forecasts, while annual inflation came in at 3.7%, slightly above the 3.6% consensus estimate. Core CPI, which excludes food and energy, increased 0.3% on the month versus expectations for 0.2%, while the year-over-year core reading was 2.6%, above the 2.5% forecast. The data prompted traders to reassess the ou
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32% Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at S&p 500 Futures Red After Hot Cpi Data Pushes Yields Higher US stock futures moved into the red Wednesday morning after a mostly hotter-than-expected inflation report led investors to raise their expectations for future Federal Reserve tightening. 3% before the consumer price index (CPI) data was released. The September inflation report was generally firmer than expected.
6% consensus estimate. 5% forecast. The data prompted traders to reassess the outlook for Fed policy. According to CME's FedWatch tool, the odds that the Fed leaves rates unchanged at its October 27-28 meeting fell to 56% from 78% before the report.
Meanwhile, the probability of a 25-basis-point rate hike climbed to about 44% from 22%. Rate expectations further out the curve also shifted higher. 9 basis points before the inflation numbers were released. Treasury yields jumped in response.
217%. The rise in yields is weighing on most sectors in premarket trading. 8%. Other rate-sensitive areas are also under pressure.
9%, while the Invesco PHLX Semiconductor ETF is off about 2%. " Stovall added, "I would tend to say that because inflation does not appear as if it's running away and the Fed has already indicated that it is going to take a more of a hawkish approach to inflation. m. ET.
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