Wall St futures recover as oil slides ahead of inflation test
Investors awaited the Consumer Price Index report as Brent and West Texas Intermediate crude fell more than 2%, easing pressure on stocks.
- U.S. stock index futures rose on Friday morning as oil prices cooled, with investors pinning hopes on the August Consumer Price Index report to end a rough week positively.
- Escalating Middle East tensions drove oil to weekly gains of around 8%, dragging the Dow down roughly 2.5% and the S&P 500 and Nasdaq down about 1.6% since Monday.
- Oracle stock jumped more than 7% following strong quarterly results, while the 10-year Treasury yield eased to around 4.95% ahead of CPI data economists expect to show 3.4% annual growth.
- With the Federal Reserve's September 16 meeting approaching, economists warn that if inflation comes in hotter than consensus, the central bank may hike rates next week.
- Fluctuating interest rate expectations have left the market backdrop fragile, though Franklin Templeton Institute strategist Jeff Schulze noted that history suggests strong starts to the year often persist through December.
19 Articles
19 Articles
The drop in oil gives back appetite to investors, who for now go beyond an ever-high inflation. ...
New York stock markets opened higher as the August Consumer Price Index (CPI) largely met market expectations. As of 9:44 a.m. local time on the 11th, the Dow Jones 30 Industrial Average on the New York Stock Exchange recorded 52,609.37, up 545.27 points (1.05%) from the previous close. The Standard & Poor's (S&P) 500 index rose 72.82 points (0.96%) to 7,664.52, and the Nasdaq Composite index
Wall St opens higher after August inflation report
The main US stock indexes opened higher on Friday (Sep 11), putting them on track to end a rough week on a positive note even as data showed consumer prices accelerated in August. Read more at The Business Times.
The European Bags round up with the futures on Wall Street after American inflation in August proved to be in line with expectations, growing year-on-year by 3.4% in the main figure and 2.4% in the 'core' one, net of the cost of be... (ANSA)
Wall St futures recover as oil slides ahead of inflation test
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