Important inflation data will be released ahead of the U.S. market open. Stock futures are on the fence.
U.S. stock futures pointed to a choppy start for Wall Street on Friday, with investors in a nervous wait for May inflation data a day after a sharp selloff for equities.
What’s driving markets? The... U.S. stock futures pointed to a choppy start for Wall Street on Friday, with investors in a nervous wait for May inflation data a day after a sharp selloff for equities. What’s driving markets? The consumer-price index is expected to show a large 0.7% increase when the report is released ahead of the open — more than double the gain in the prior month. In April, the yearly rate fell for the first time in eight months to 8.3%. The prior 8.5% reading in March was the biggest since December of 1981.“Analysts expect the U.S. inflation to stabilize around last month’s 8.
U.S. stocks tracked European equities lower on Thursday after the European Central Bank announced that its first interest-rate hike in more than a decade will take place next month, with another likely in September, in a bid to get surging inflation under control.