Futures broadly higher, Bitcoin swings after fake SEC post - what's moving markets
Investing.com -- U.S. stock futures were mostly higher on Wednesday with crucial inflation data out of the world's economy coming later this week. Elsewhere, the price of Bitcoin swings wildly following a false post on the Securities and Exchange Commission's account on social media platform X, while Boeing's (NYSE:BA) chief executive admits that a mid-air fuselage breach last week was the planemaker's «mistake.»
1. Futures broadly higher
U.S. stock futures edged mostly into the green on Wednesday as investors awaited the release of key inflation figures later in the week.
By 05:20 ET (10:20 GMT), the Dow futures contract were unchanged, S&P 500 futures had added 7 points or 0.1%, and Nasdaq 100 futures had gained 66 points or 0.4%.
The main averages on Wall Street were mixed at the close of trading in the prior session. The 30-stock Dow Jones Industrial Average shed 0.4% and the benchmark S&P 500 dropped by 0.2%, while the tech-heavy Nasdaq Composite gained 0.1%.
Markets are gearing up for the publication of the U.S. consumer price index for December on Thursday, a crucial piece of economic data which could factor into how the Federal Reserve approaches possible interest rate cuts this year. While the Fed has laid out a dovish projection for the path of borrowing costs in 2024, several policymakers have moved recently to temper optimism that a reduction could come early this year. Enthusiasm over a potential Fed pivot, which drove a rally in stocks in the final weeks of 2023, has subsequently waned.
2. False social media post sparks Bitcoin volatility
The price of Bitcoin was lower on Wednesday after a false post on social media platform X sparked wild swings in the world's most recognizable cryptocurrency.
The fake
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