Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Futures lower as traders await PPI reading
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Thursday as market participants prepared for the release of yet another key inflation report. As of 1225 BST, Dow Jones futures were down 0.31%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.32% and 0.25% weaker, respectively.
The Dow closed 422.16 points lower on Wednesday after March's hotter-than-expected consumer price index fuelled worries that the Federal Reserve may now implement fewer rate cuts than initially thought. The yield on the benchmark 10-year Treasury note rose 18 basis points on the news, hitting its highest level since November 2023.
Trade Nation's David Morrison said: "Investors are once again recalibrating the probabilities of rate cuts this year. Having initially forecast six 25 basis point rate cuts in 2024, investors had recently reduced their forecasts to a maximum of three cuts. But now two seems more likely, if that. And we may have to wait until September to get the first, rather than June as previously forecast."
With the CPI somewhat in the rearview, Thursday's primary focus will be March's producer price index, due out at 1330 BST, with economists expecting to see wholesale prices grow by 0.3% in March, or 0.2% when excluding volatile food and energy prices.
Elsewhere on the macro front, weekly jobless claims data will be released at 1330 BST, while Federal Reserve bankers John Williams, Susan Collins, and Raphael Bostic will all deliver speeches throughout the course of the day.
In the corporate space, investors will be looking ahead to tomorrow for the first batch of big-name bank earnings, with JPMorgan, Wells Fargo and Citigroup all set to report on Friday.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.