Tuesday, December 7, 2021

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    Equity futures on Tuesday are low ahead of major inflation data

    US stock futures fell on Tuesday night as investors waited for important data on Wednesday. This will be the next big indicator that rising price pressure is accelerating.

    The Dow Jones Industrial Average futures fell 117 points. Both S & P 500 futures and Nasdaq 100 futures were trading in the negative territory.

    In a normal transaction, the Dow lost about 0.3% and closed at 36,319.98. The S & P 500 fell 0.4%, recording eight consecutive wins and the Nasdaq Composite falling 0.6%.

    Tesla stock Finished almost 12% lower Trading on Tuesday will extend Monday’s loss.

    “Tesla’s weaknesses (mainly technical and not fundamental) are also affecting the consumer discretionary sector within today’s S & P 500, and the October PPI also saw higher corporate input prices. We may be doing so because we continue, “Goldman Sachs Jeff Curry said in a note on Tuesday. “The prospect of Covid changing from a pandemic to endemic and the potential for alleviation of supply chain congestion are all likely to continue to drive growth, albeit slowly,” Curry added.

    Tuesday morning, the Ministry of Labor reported an increase of 0.6% October Producer Price Index, This is consistent with the Dow Jones consensus estimate. Wholesale prices in October rose 8.6% from a year ago, but reached a record high annual pace in almost 11 years.

    “Today, investor concerns have re-emerged,” Brent Schütte, chief investment strategist at Northwestern Mutual Wealth Management Company, told CNBC. “Inflation is still explained and needs to be resolved. Investors will continue to ease in the coming months as the FRB continues to ease, people return to the workforce and consumers move from buying goods to services. We believe inflation will ease. We will raise the market towards the end of the year. “

    Investors are breathtaking in reading the latest consumer price index, which the Ministry of Labor reports before Bell on Wednesday. Economists expect an increase of 0.6%, or almost 6% year-on-year. This will be the most in 30 years. They exclude food and energy and expect the Federal Reserve’s recommended inflation index, the core CPI, to rise 0.4%, or 4.3%, year-on-year.

    Weekly unemployment claims and mortgage applications to buy a home are also scheduled for Wednesday.

    According to FactSet, the earnings season continues to be strong, with most S & P 500 companies already above estimates. Disney, Affirm, Bumble and The Honest Company will all report after the bell on Wednesday.

    Equity futures on Tuesday are low ahead of major inflation data

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    The post Equity futures on Tuesday are low ahead of major inflation data appeared first on Eminetra.

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