U.S. futures mixed as investors await U.S. inflation data
U.S. stocks were mixed on Thursday trade, in tight trading ranges as investors await the release of U.S. inflation data due later today.
The Dow Futures contract advanced 75 points or 0.2%. S&P 500 Futures gained 2 points or 0.1%. The Nasdaq 100 Futures plunged 35 points or 0.3%.
The three major indices traded within tight ranges lower Wednesday, with the blue-chip Dow Jones Industrial Average, the broad-based S&P 500, and the tech-heavy Nasdaq Composite all ending the day within 0.5% of Tuesday’s closing levels.
U.S. stock markets have limited activities as investors await the release of the latest U.S. consumer price release at 8:30 AM ET. Investors worry that a sharp inflation hike could trigger the Federal Reserve to curb the pace of its asset purchases or begin to signal an increase in interest rates.
As the U.S. economy reopens after the pandemic restrictions, consumer prices begin to rise quickly, and analysts expect prices to rise 0.4% in May, pushing annual inflation above April’s 4.2%, already the highest in more than a decade, to 4.7%.