VRTX - Wall Street Braces For Another Red Day Ahead Of More Inflation Data While Bitcoin Holds Above $70K: Analyst Sees Any Pullback As 'Phenomenal Buying Opportunity' | Benzinga
The negative mood on Wall Street may persist as investors await the release of another inflation report, which will have significant implications for the near-term trend in consumer prices. Wholesale price inflation typically flows down the supply chain and manifests as higher retail prices in the coming months.
Major U.S. index futures are pointing towards a lower opening on Thursday. Traders may also be keeping an eye on a key central bank decision from Europe, the weekly U.S. jobless claims data, and a series of Fed speeches scheduled for later today.
Futures Performance On Thursday ( as of 6:50 a.m. EDT)
Futures Performance (+/-)
Nasdaq 100 -0.12%
S&P 500 -0.24%
Dow -0.21%
R2K -0.77%
In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.19% to $513.15, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.13% to $437.81 according to Benzinga Pro data.
Cues From Previous Session:
Soaring inflation data and the subsequent Federal Reserve meeting minutes rattled investors on Wednesday. The minutes revealed a lack of strong consensus among Fed officials regarding inflation’s trajectory, fueling concerns that it may not be on a sustained downward path. This uncertainty led to a significant decline in major indexes at the open. The markets then displayed limited movement throughout the trading day, remaining at these depressed levels.
The Dow ...