Stock market futures remained in negative territory Tuesday morning as Wall Street digested new inflation figures from April and considered what they might mean for Federal Reserve policy decisions moving forward.
The latest Consumer Price Index report from the Labor Department revealed prices climbed 3.8% compared to the same month last year, exceeding economist predictions of a 3.7% rise based on a Reuters survey. Month-to-month, prices increased 0.6%, which matched analyst expectations.
When removing the more unpredictable food and energy sectors, the core inflation measure reached 2.8% annually, surpassing the anticipated 2.7%. The monthly core reading came in at 0.4%, higher than the projected 0.3% gain.
As of 8:37 a.m. Eastern Time, futures contracts showed the Dow down 15 points or 0.03%, while Nasdaq 100 futures fell 224 points or 0.76%. S&P 500 futures dropped 24.5 points, representing a 0.33% decline.
