Investing.com – U.S. stock markets pointed to a lower open on
Friday as investors awaited the publication of the inflation data
and investors watched
continued to falter.
The blue-chip Dow futures dropped 60 points, or 0.37%, by
12:30GMT, or 7:30AM ET, the S&P 500 futures fell 7 points, or
0.38%, while the tech-heavy Nasdaq 100 futures traded down 17
points, or 0.42%.
Investors waited for the publication of the consumer price index
(CPI) by the U.S. Bureau of Labor Statistics at at 13:30GMT or
8:30AM ET and investors will be reading the data for its possible
effect on future Fed rate moves.
Evidence of stronger price growth could encourage the US central
bank to normalize monetary policy in the following months.
"Though FOMC is targeting PCE core inflation, it is also
monitoring the development in CPI core inflation. PCE core has been
subdued in recent years, but the trend in CPI core has been upward
sloping and thus more encouraging for the Fed," experts from Danske
Bank said in a note.
Among active pre-market movers, Deere & Company (N:DE)lost
1.3% in the pre-market after the farming and construction equipment
maker reported a drop in quarterly profit and lowered its 2016
Applied Materials (O:AMAT) jumped 8.6% before the bell as the
world's largest maker of machinery for the fabrication of
semiconductor chips reported earnings that beat consensus and gave
an upbeat forecast after the close on Thursday.
Apparel retailer Nordstrom (N:JWN) was expected to slump on
Friday as quarterly earnings missed estimates.
Meanwhile, investors continued to eye the end of the rally in
crude that has pushed prices up 14% in three days.
The turnaround began on Thursday after the Energy Information
Administration said U.S. crude inventories rose by 2.1 million
barrels last week, to a peak of 504.1 million barrels.
March future contracts which expire on Friday fell -2.08%, to
Crude oil futures for April delivery, priced two dollars above
the March contract, lost -1.46% to $32.45.
Brent oil traded down -1.28% to $33.84.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
for Android and iOS!
http://glocdn.investing.com/news/sad_trader_M_1440048075.jpgRead on: Nasdaq