US equity futures are trading cautiously lower ahead of the release of inflation data.
Major futures indices are trading mixed ahead of Wednesday’s Wall Street trading session.
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Investors will be on the lookout for the latest retail price inflation report.
The Bureau of Labor Statistics is expected to say that the consumer price index rose 0.5% month-over-month in July, following June’s stronger-than-expected growth of 0.9%, the highest since August 2008.
On a year-over-year basis, see a 5.3% price increase in July, just a notch below June’s annual growth rate of 5.4%, which was also the highest since August 2008. If you exclude the volatile costs of food and energy, the main consumer price index likely rose 0.4% last month and is expected to rise 4.3% year-on-year.
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In Asia, the Nikkei 225 in Tokyo rose 0.7%, the Hang Seng in Hong Kong by 0.2% and the Chinese Shanghai Composite Index by 0.1%.
In Europe, London’s FTSE gained 0.4%, German DAX rose 0.1% and France’s CAC gained 0.3%.
One stock that will be active on Wednesday will be WW International. Shares are down 26% in the pre-market following quarterly results that fell short of expectations.
The New York-based company said it had net earnings of 12 cents per share. Profit, adjusted for one-time costs, was 48 cents per share. The wait was 67 cents.
The operator of the weight loss program posted revenue of $ 311.4 million during the period, which also missed Street’s forecast.
On Wall Street, the S&P 500 and Dow Jones Industrial Average closed at record highs Tuesday after the Senate passed an infrastructure package and oil prices mostly recovered from Monday’s drop.
|Me: DJI||MEDIUM DOW JONES||35264.67||+162,82||+0,46 %|
|I:COMP||NASDAQ COMPOSITE INDEX||14788.086837||-72.09||-0,49%|
The S&P 500 recovered from an early slide and added 0.1% to 4,436.75. The Dow Jones Industrial Average rose 0.5% to 35,264.67. The tech-rich Nasdaq slipped 0.5% to 14,788.09.
The Senate’s passage of the $ 1 trillion infrastructure bill has boosted the shares of steel and aluminum manufacturers, building material suppliers, and construction companies and d ‘engineering.
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Banks made some of the biggest gains as bond yields edged up. Banks enjoy higher yields, which allows them to charge higher interest rates on loans. The 10-year Treasury yield was 1.37%.
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In energy markets, benchmark US crude slipped 17 cents to $ 68.12 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the standard for international oil prices, fell 10 cents to $ 70.53 a barrel in London.
The Associated Press contributed to this report.