US Futures Decline on Rate Hike Fears
US stock futures extended losses on Thursday as hotter-than-expected consumer inflation strengthened expectations of more aggressive Federal Reserve rate hikes. S&P 500 and Nasdaq 100 futures fell 0.3% and 0.9%, respectively, while Dow futures were flat. During Wednesday’s regular session, the S&P 500 and Nasdaq Composite declined 1.11% and 1.88%, respectively, with technology stocks leading the selloff amid growing concerns over AI-related investments. Data released Wednesday also showed that annual consumer price inflation accelerated to 3.7% in September, its highest level in four months and above market expectations of 3.6%. Investors are now awaiting Thursday’s producer inflation report, along with the latest retail sales data and weekly jobless claims figures. On the corporate front, earnings reports are expected from Charles Schwab, US Bancorp, Freeport-McMoRan, American Airlines, Snap, and other companies.
US stock futures extended losses on Thursday as hotter-than-expected consumer inflation strengthened expectations of more aggressive Federal Reserve rate hikes. 9%, respectively, while Dow futures were flat. 88%, respectively, with technology stocks leading the selloff amid growing concerns over AI-related investments. 6%.
Investors are now awaiting Thursday’s producer inflation report, along with the latest retail sales data and weekly jobless claims figures. On the corporate front, earnings reports are expected from Charles Schwab, US Bancorp, Freeport-McMoRan, American Airlines, Snap, and other companies.