ZUMZ - Nasdaq S&P 500 Futures Wobble On Inflation Data Anxiety: Why This Analyst Isn't Sweating Over A Hot Print | Benzinga
Inflation jitters are weighing on the index futures on Wednesday, which point to a modestly lower open. A weaker-than-expected inflation print could reverse the sentiment and lead to a strong gain and an in-line report could also trigger a relief rally. On the contrary, if the numbers exceed expectations, near-term weakness cannot be ruled out as the Fed continues to swear by its resolve to fight inflation until it falls below its 2% target.
Cues From Tuesday’s Trading
In the absence of any major Main Street cues and amid a negative reaction to Apple, Inc.’s (NASDAQ:AAPL) iPhone launch event, the major averages retreated on Tuesday. After a negative start, the tech-heavy Nasdaq Composite and the S&P 500 indices stayed below the unchanged line throughout the session.
The 30-stock Dow Industrial Averages recovered from a weak start and remained mostly in the green during the mid-session. Pulling back below the unchanged line in late trading, the index closed marginally lower, snapping a three-session winning streak.
US Index Performance On Tuesday
Index Performance (+/-) Value
Nasdaq Composite -1.04% 13,773.61
S&P 500 Index -0.57% 4,461.90
Dow Industrials -0.05% 34,645.99
Russell ...