US stock futures traded lower amid concerns about rising inflation prompting a selloff in technology stocks.
Dow Jones futures dropped 0.5%, S&P 500 futures fell 0.9% and Nasdaq-100 futures retreated 1.2%.
Investors are wagering that inflation may rise in coming months due to increased spending, supply disruptions and spike in commodity prices. This will force the Federal Reserve tighten its monetary policies sooner than anticipated.
10-year U.S. Treasury note rose to 1.610%, compared to 1.601% on Monday
Going ahead, the focus will be on Labor Department's JOLTS report for March and speeches by several Fed members. Investors will be eyeing the speeches for any fresh cues about inflationary pressures and interest rates. Investors will also be anticipating earnings results from TransDigm Group Incorporated, Hanesbrands Inc. and Electronic Arts Inc.
Brent crude futures fell 1.1% to $67.55 per barrel, while US WTI crude futures fell 1.2% to $64.15 a barrel.
25 Jun 2021 11:12 AM
Gold advanced today and was set for its first weekly rise in four as the U.S. currency weakened, with market participants focusing U.S. inflation data after mixed signals from Fed officials on interest rate hikes.
25 Jun 2021 10:36 AM
Check how the Indian markets started their day
25 Jun 2021 09:09 AM
The Indian rupee is expected to appreciate against the U.S. currency following a rise in Asian currencies and equities on upbeat economic outlook.
25 Jun 2021 07:30 AM
Check What Happened Overnight In Financial Markets
24 Jun 2021 06:35 PM
Key factors to keep in mind before the US markets open
24 Jun 2021 03:55 PM
The Indian rupee strengthened for the second straight day against the U.S. dollar and closed higher at 74.16, aided by strong portfolio equity inflows.