Futures rise as Treasury yields drop ahead of inflation data
(Reuters) — Futures for Wall Street's main stock indexes rose on Thursday as Treasury yields eased, while investors looked forward to crucial inflation data to gauge the Federal Reserve's interest-rate outlook.
The Labor Department report, due at 8:30 a.m. ET, is expected to show consumer prices rising 0.3% in September according to economists polled by Reuters.
Prices are seen rising to 3.6% in the 12 months through September. The core figure, which excludes volatile food and energy prices, is expected to rise 0.3% last month.
Meanwhile, the yield on the benchmark 10-year note fell for the third straight day, helping megacap stocks, including Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL), Tesla (NASDAQ:TSLA), Nvidia (NASDAQ:NVDA), Meta Platforms (NASDAQ:META) and Amazon.com (NASDAQ:AMZN), advance between 0.2% and 0.6% in premarket trading.
Fed Bank of Boston President Susan Collins, who does not have a vote on the rate setting Federal Open Market Committee (FOMC) this year, said the economy was yet to feel the full impact of the rate hike cycle, while reiterating that the central bank is not done with rate hikes.
Minutes from the Fed's September policy meeting showed that policymakers were turning cautious due to the growing uncertainty around the path of the U.S. economy, as well as volatile data and tightening financial markets posing risks to growth.
«The words 'proceed carefully' and 'risks to achieving the goals had become more two-sided' speak to the view of the centrists on the FOMC,» strategists at Societe Generale (OTC:SCGLY) said in a note.
«Barring a surprise for CPI today on the scale of non-farm payrolls last week, one must assume another hawkish pause or skip on Nov. 1 is now a done deal.»
Traders put the
Read more on investing.com
