Stock index futures are slightly lower as investors react to the release of key inflation data and recent trade policy developments. The Federal Reserve’s key inflation measure, the core personal consumption expenditures price index, showed a 0.4% increase for the month of February, putting the 12-month inflation rate at a hotter-than-expected 2.8%.
In the commodities market, gold prices have surged to new record highs amid escalating trade tensions and investor uncertainty. Spot gold is currently trading near $3,100 per ounce. Oil prices remain near one-month highs and are poised for a third consecutive week of gains. Brent crude futures are trading at approximately $73.95 per barrel, while West Texas Intermediate crude is around $69.84 per barrel.
In pre-market trading, S&P 500 futures fell 0.43%, Nasdaq futures fell 0.55% and Dow futures fell 0.28%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
- CureVac (CVAC) up 16% after announcing that the European Patent Office has confirmed the validity of the company’s European patent EP 3 708 668 B1 subject to amendments to specify the scope of protection
- W.R. Berkley (WRB) up 8% after confirming that Mitsui Sumitomo Insurance has entered into an arrangement with a company owned by members of the Berkley family and trusts for their benefit providing for MSI to purchase 15% of the company’s outstanding common stock through open market purchases or private transactions with third parties
- Rocket Lab (RKLB) up 7% after Rocket Lab and Stoke Space Technologies were awarded a multiple-award, firm-fixed-price, indefinite-delivery/indefinite-quantity contract with a maximum cumulative ceiling of $5.6B for the National Security Space Launch Phase Three Lane One fiscal 2025 on-ramp
- U.S. Steel (X) up 4% after Rohan Goswami of Semafor posted on X last night that Nippon Steel (NPSCY) and the company are in “active talks about a deal that would keep the $55 p/s and would secure additional $ towards legacy businesses”
UP AFTER EARNINGS –
DOWN AFTER EARNINGS –
- Emeren (SOL) down 1%
- China Automotive (CAAS) down 1%
- Oxford Industries (OXM) down 12%
- Lululemon (LULU) down 11%
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Read More on WRB:
- W. R. Berkley confirms Mitsui Sumitomo intention to purchase 15% of shares
- W. R. Berkley Corporation: Hold Rating Justified by Diversified Model and Conservative Reserving Amid Social Inflation Pressures
- W. R. Berkley price target raised to $73 from $68 at TD Cowen
- W. R. Berkley Posts Mixed Earnings Amid Challenges