Hot inflation data pushes US stock futures lower
S&P 500 contracts slipped ahead of Friday's open as September's core inflation reading came in hotter than expected, dimming hopes for rate cuts.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
US stock futures opened softer on Friday, October 16, as investors reacted to a September inflation report that came in above expectations. Consumer prices rose 0.6% from the previous month, and core readings ran hot.
Why it matters
Investors are adjusting to the prospect of interest rates staying restrictive for longer, which keeps rate cut hopes on hold.
Coverage
- US Stock Market Today: S&P 500 Futures Dip As Higher For Longer Worries Build (Simply Wall St)
- US Stock Market Today: S&P 500 Futures Ease As Hot Core CPI Hits Rate Hopes (Yahoo News)
- US inflation accelerates as energy costs push up wholesale prices
- Hotter US inflation data sends bitcoin toward $81,000
- Bitcoin and Ether funds see $391 million in outflows
- US inflation climbs to 3.7%, stocks slide and Fed hike fears grow
- Wholesale prices jump 6.3% annually in September
- US September inflation report comes in hot, pushing bitcoin lower
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