Futures reverse gains as inflation data intensifies rate hike worries By Reuters

Tesla chair testifies she would have quit if Musk had lied in 2018 tweets

Futures reverse gains as inflation data intensifies rate hike worries

Economy Dec 09, 2022 08:48

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Futures reverse gains as inflation data intensifies rate hike worries

(Reuters) - U.S. stock index futures turned negative on Friday after a higher-than-expected rise in producer prices in November fanned worries of the Federal Reserve sticking to its policy tightening for longer.

The Labor Department's report showed producer prices edged 7.4% higher last month on an annual basis versus economists' expectations of 7.2%, after an 8% rise in October.

At 8:31 a.m. ET, Dow e-minis were down 149 points, or 0.44%, S&P 500 e-minis were down 21.75 points, or 0.55%, and Nasdaq 100 e-minis were down 96 points, or 0.82%.

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Comments (1)

Oil Cow Dec 09, 2022 8:59

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