Categories
Audio Sources - Full Text Articles

Futures hold losses after inflation data

2023-04-28T12:47:05Z

U.S. stock index futures held losses on Friday after a keenly watch inflation gauge rose largely in-line with expectations, prompting investors to stick to their bets of the Federal Reserve hiking interest rates again next week.

Personal consumption expenditure index, the Fed’s preferred inflation gauge, rose to 4.2% in March on a year-over-year basis from a 5% rise in the previous month.

However, the core rate, excluding prices of volatile items such as food and energy, remained unchanged at 4.6%, versus economists’ projections of a 4.5% rise.

At 8:38 a.m. ET, Dow e-minis were down 130 points, or 0.38%, S&P 500 e-minis were down 13 points, or 0.31%, and Nasdaq 100 e-minis were down 26.5 points, or 0.2%.

Related Galleries:

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 10, 2023. REUTERS/Brendan McDermid

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 19, 2023. REUTERS/Brendan McDermid/File Photo