A retreat in US stock futures picked up pace on Wednesday in the wait for the latest inflation reading, as investors ***** sed the impact of US-Iran military clashes on odds for a peace plan.
Nasdaq 100 futures (NQ=F) led the pullback, down 1.2% as Tuesday's sell-off in tech stocks deepened. S&P 500 futures (ES=F) sank 0.8%, while those on the Dow Jones Industrial Average (YM=F) fell 0.7%.
Techs look set for another bruising as the rotation out of the AI trade continues, as concerns around OpenAI (OPAI.PVT) and Anthropic's (ANTH.PVT) mega-IPOs build.
Focus is now on the May's CPI report, which will add to the pressure on growth stocks if the consumer inflation reading comes in hot as expected.
The data, set for release at 8:30 a.m. ET, is forecast to show prices rose 4.2% since last May. That would be the hottest annual reading in over three years, and would likely boost bets on an interest-rate hike landing this year.
Nasdaq 100 futures (NQ=F) led the pullback, down 1.2% as Tuesday's sell-off in tech stocks deepened. S&P 500 futures (ES=F) sank 0.8%, while those on the Dow Jones Industrial Average (YM=F) fell 0.7%.
Techs look set for another bruising as the rotation out of the AI trade continues, as concerns around OpenAI (OPAI.PVT) and Anthropic's (ANTH.PVT) mega-IPOs build.
Focus is now on the May's CPI report, which will add to the pressure on growth stocks if the consumer inflation reading comes in hot as expected.
The data, set for release at 8:30 a.m. ET, is forecast to show prices rose 4.2% since last May. That would be the hottest annual reading in over three years, and would likely boost bets on an interest-rate hike landing this year.
5 days ago
