Market Snapshot: U.S. stock futures pause as traders wait to see if PPI data moves markets in a way CPI did not

by | Aug 11, 2023 | Stock Market

U.S. stock futures on Friday were stuck ahead of data on producer prices, after consumer price statistics did little to move the markets in either direction.What’s happening
Dow Jones Industrial Average futures
rose 7 points, or 0%, to 35258.

S&P 500 futures
dropped 4 points, or 0.1%, to 4482.

Nasdaq 100 futures
decreased 29 points, or 0.2%, to 15173.

On Thursday, the Dow Jones Industrial Average
rose 53 points, or 0.15%, to 35176, the S&P 500
increased 1 points, or 0.03%, to 4469, and the Nasdaq Composite
gained 16 points, or 0.12%, to 13738.

What’s driving markets Stocks initially rallied Thursday after data showing consumer prices, and core costs, rising 0.2% on a monthly basis in July, matching estimates. But equities flattened out as San Francisco Fed President Mary Daly said there was more work to be done and as an auction of 30-year notes
wasn’t as strong as the 3- and 10-year auctions of the previous two days. “The current rate of disinflation seems congruent with the scenario of a September pause from the FOMC, though markets will probably remain a little anxious knowing that the August CPI print is still to come between now and the next policy meeting,” said Tim Water …

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