U.S. stock futures slipped Thursday evening as the market braced for a key inflation report due tomorrow morning. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were down 0.3%, 0.52%, and 0.35%, respectively, at 6:42 p.m. EST on February 26.
Claim 55% Off TipRanks
New trading tool for QQQ bullsThe pressure came after the S&P 500 fell 0.5% and the Nasdaq dropped 1.2% during Thursday’s regular trading session, while the Dow managed a small gain. Nvidia stock (NVDA) was the biggest surprise of the day, sliding 5.5% despite strong quarterly results.
All eyes now turn to January’s Producer Price Index (PPI), a key measure of wholesale inflation. Economists expect both headline and core PPI to rise 0.3%. The report could influence expectations for the Federal Reserve’s next steps.