Futures Slip Ahead Of Inflation Data

(MENAFN- Baystreet) Dow Pops to New Record

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  • S&P Cracks 5,000-Point Level, Enjoys 5th-Straight Winning Week Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, February 13, 2024

    Futures Slip Ahead of Inflation Data Advertisment
    Stock futures were slightly lower Tuesday as investors prepared for a key inflation report.
    Futures for the Dow Jones Industrials index settled 60 points, or 0.2%, to 38,824.
    Futures for the S&P 500 dipped 21.5 points, or 0.4%, at 5,019.75.
    Futures for the NASDAQ tumbled 147 points, or 0.8%, to 17,818.
    In corporate news, JetBlue Airways spiked 15% after activist investor Carl Icahn reported a nearly 10% stake in the airline. Toymaker Hasbro plunged more than 12% after missing analyst expectations for the fourth quarter. Similarly, shares of Avis Budget Group slipped 1.8% in premarket on the back of disappointing fourth-quarter revenue.
    Earnings on deck for Tuesday include soft drinks giant Coca-Cola, toymaker Hasbro and Marriott International in the morning. Casino operator MGM Resorts and kidney dialysis company DaVita will post results after the close.
    The consumer price index report is slated for release at 8:30 a.m. ET. The report will be closely watched by investors as they look for clues on future potential Federal Reserve policy moves.
    Headline inflation is expected to have increased 0.2% month over month and 2.9% from a year earlier, according to economists polled by Dow Jones. Core prices, which exclude volatile food and energy components, are expected to have increased 0.3% in January and 3.7% from a year earlier, respectively.
    In Japan, the Nikkei 225 returned to trading with a bang, leaping 2.9%, while Hong Kong and much of the rest of Asia remained shuttered for the Lunar New Year.
    Oil prices advanced 49 cents to $77.41 U.S. a barrel.
    Gold prices jumped $9.50 to $2,042.50 U.S. an ounce.

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