US Stock Futures Weakened Ahead of the Crucial CPI – Europe Market Wrap
US equities futures contracts remained within restricted ranges as traders awaited a major US inflation report later for hints on the outlook for interest rate cuts.
S&P 500 futures fell 0.1%. Positive earnings reports boosted European stock prices. An index of Asian stocks rose. Treasury rates have been elevated since statistics late last week indicated a solid US labour market, supporting the Fed’s cautious attitude on additional rate cuts. Dollar strength moved higher.
Markets are on edge as they await Wednesday’s consumer price index data. Economists estimate the core CPI excluding food and energy to rise 0.3% from the previous month in January, following a 0.2% gain in December.
In other currency news, the Yen fell for the third day in a row, becoming the worst performer among its Group-of-10 peers, on fears over Trump’s trade tariff proposals. On Wednesday, the Japanese government asked Trump to spare its companies from new tariffs.
