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Futures reverse gains as inflation data intensifies rate hike worries

12/09/2022 | 08:41am EST
Traders work on the floor of the NYSE in New York

(Reuters) - U.S. stock index futures turned negative on Friday after a higher-than-expected rise in producer prices in November fanned worries of the Federal Reserve sticking to its policy tightening for longer.

The Labor Department's report showed producer prices edged 7.4% higher last month on an annual basis versus economists' expectations of 7.2%, after an 8% rise in October.

At 8:31 a.m. ET, Dow e-minis were down 149 points, or 0.44%, S&P 500 e-minis were down 21.75 points, or 0.55%, and Nasdaq 100 e-minis were down 96 points, or 0.82%.

(Reporting by Ankika Biswas in Bengaluru; Editing by Saumyadeb Chakrabarty)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NASDAQ 100 -0.87% 12464.51 Real-time Quote.13.94%
NASDAQ COMPOSITE -1.00% 11887.45 Real-time Quote.13.58%
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