Stock Futures Hold Flat Before August CPI as Fed Hike Odds Reach 71%
Updated
Updated · CNBC · Sep 9
Stock Futures Hold Flat Before August CPI as Fed Hike Odds Reach 71%
3 articles · Updated · CNBC · Sep 9
Summary
S&P 500 futures edged slightly higher, Dow futures slipped 11 points and Nasdaq 100 futures rose less than 0.1% late Thursday as traders waited for Friday’s August CPI report.
Thursday’s regular session extended the selloff to a fourth straight day after oil topped $100 a barrel and the 10-year Treasury yield climbed above 4.95%, its highest since October 2023.
August producer prices added to the inflation focus, rising 0.4% on the month and 5.4% from a year earlier, while economists expect CPI to increase 0.4% monthly and 3.4% annually.
Fed funds futures imply a 71% chance of a Sept. 16 rate hike, with Natixis saying an in-line CPI could ease pressure for a move but a hotter reading would likely trigger one.