off-the-wire

S&P 500 futures fall sharply after October inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
S&P 500 futures fall sharply after October inflation data teaser image

Nov 10 (Reuters) - Futures tied to the S&P 500 fell ​sharply on Tuesday after a ‌hotter-than-expected inflation reading strengthened expectations that the Federal Reserve ​will keep interest rates ​higher for longer.

A Labor ⁠Department report showed the ​Consumer Price Index rose 0.4% ​on a monthly basis, compared with estimates of a 0.3% rise, according ​to economists polled ​by Reuters.

Excluding volatile food and energy ‌components, core ⁠CPI increased 0.3% in October, above expectations of a 0.2% gain.
Advertisement · Scroll to continue

At 08:32 a.m. ​ET, ​Dow E-minis ⁠were up 46 points, or 0.09%, ​and S&P 500 E-minis ​were ⁠down 26.25 points, or 0.35%. Nasdaq 100 E-minis ⁠were ​down 256.5 points, ​or 0.92%.

Reporting by Utkarsh Hathi in ​Bengaluru; Editing by Devika Syamnath

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.