S&P 500 futures fall sharply after October inflation data
SPY•S&P 500 futures fell 0.35% after October CPI rose 0.4% month over month, above economists’ 0.3% estimate. Core CPI increased 0.3%, also above expectations of 0.2%.
1. Inflation data weighs on futures
S&P 500 futures fell sharply on Tuesday after October inflation came in hotter than expected, strengthening expectations that the Federal Reserve will keep interest rates higher for longer. At 8:32 a.m. ET, S&P 500 E-minis were down 0.35%, Nasdaq 100 E-minis were down 0.92%, and Dow E-minis were up 0.09%.
