S&P 500 futures slightly green after cool CPI
SPY•Futures turn positive after CPI release
U.S. equity index futures were mixed, with Nasdaq 100 up about 1% and Dow futures dipping.
E-mini S&P 500 futures (ESc1) turned positive after the latest Consumer Price Index (CPI) data, and were up around 0.2% versus a loss of around 0.1% shortly before the numbers came out. The futures had been lower as investors sifted through earnings reports from Wall Street's biggest banks, while IBM shares collapsed after a dismal revenue forecast.
Cooler inflation boosts rate-cut expectations
June CPI on a month-over-month basis came in at -0.4% vs. a -0.1% estimate. The year-over-year print was 3.5% as compared to the 3.8% Reuters poll. Core CPI on a month-over-month basis came in at 0.0% vs. a 0.2% estimate. On a year-over-year basis, the core reading came in at 2.6% vs. the 2.8% Reuters poll.
