US stock futures slip as investors await inflation data

U.S. stock index futures were lower on Friday ahead of the release of key inflation data.

At around 7:10 a.m. ET, Dow Jones Industrial Average futures fell 50 points, indicating a decline of 73.92 points at the open. Futures on the S&P 500 and Nasdaq 100 were trading lower.

The latest CPI figures as well as core CPI data for December are scheduled for release at 8:30 a.m. ET.

The moves on Friday happened after after Federal Reserve Chairman Jerome Powell reiterated the U.S. central bank would be patient about raising interest rates over the coming months.

Meanwhile, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels.

U.S. and Chinese officials are working on arrangements of higher-level trade talks after mid-level officials concluded talks earlier this week. U.S. Treasury Secretary Steven Mnuchin said Thursday that Vice Premier Liu would most likely visit Washington later in January for further negotiations.

Major stock indexes on Wall Street closed slightly higher on Thursday, with the S&P 500 notching its first five-day winning streak since September.

However, gains were capped after disappointing holiday sales from Macy’s and a revenue guidance cut from American Airlines pressured retail and airline shares. Fear that the U.S. government shutdown might continue for a long time also weighed on stocks in the previous session.


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Source: cnbc.com | Original Link

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