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Stock futures fall slightly ahead of earnings and inflation report

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U.S. stock prices fell in overnight trading Tuesday night as investors anticipated the beginning of earnings season.

Dow futures lost 56 points. S&P 500 futures dropped 0.27% and Nasdaq 100 futures slid 0.36%.

This Tuesday the major averages fell for the third straight session. Dow Jones Industrial Average fell 117 points due to a 1.3% decline in Boeing stock. The S&P 500 fell 0.24%. Nasdaq Composite, which is technology-oriented, ended 0.14 percentage points lower.

The Russell 2000 gained 0.6% on Tuesday while small-cap stocks fared better.

Investors will keep an eye out for the September consumer inflation report on Wednesday. It is likely to be released at the same time. rapid pace as August

When Wednesday’s consumer price index releases at 8:30 am, economists anticipate a 0.3% increase, or 5.3% annualized rate. ET CPI, which excludes energy and food is expected to rise 0.3% monthly or 4% annually.

Grant Thornton chief economist Diane Swonk stated that “I think it could be hot.” “It seems that we might get more broad-based inflation. You have supply shock. The result is that you start to see the effects of rising energy prices on other goods and services.

Tuesday marks the start of bank earnings JPMorgan reporting before the bell. The bank’s top and bottom line beats were achieved last quarter due to better-than-expected loans losses. According to The Street, earnings for the third quarter will only rise by 2% compared with last year.

According to the Bespoke Investing Group, JPMorgan traded down the day after its four most recent earnings reports. However, it beat on both the top and bottom line each time.

Delta Air LinesAlso, reports will be available before Wednesday’s opening bell. After six consecutive quarters of losses per share for analysts, the analyst community expects to see positive earnings per sshare.

According to Tavis McCourt of Raymond James, an institutional equity strategist, “This is the first quarter in which investors are facing real EPS risks.” However, consensus EPS hasn’t changed significantly at the index level as, astonishingly, more stocks have experienced positive earnings revisions than negative since mid-August.

At 2 pm on Wednesday, the Federal Open Market Committee will publish minutes of its September meeting. Investors will seek out information about the timeline surrounding the planned taper by central banks for their bond-buying programs.

— with reporting from CNBC’s Patti Domm.

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