US Stock Futures Fall Ahead Of Wednesday’s Inflation Data

US Stock Futures Fall Ahead Of Wednesday’s Inflation Data

11 May 2021 06:13 PM

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.