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U.S. Futures Slide Amid Inflation Concerns, Fed Meeting Expectations

Published 06/13/2022, 03:13 AM
Updated 06/13/2022, 03:19 AM
© Reuters.

By Scott Kanowsky 

Investing.com -- U.S. futures slipped early Monday after major indices on Wall Street posted their worst week since January.

As of 0253 EST (0653 GMT), Dow futures were lower by 1.31%, S&P 500 futures contracted by 1.71%, and tech-heavy Nasdaq 100 Futures were down 2.15%.

The indices fell last week as concerns over soaring prices mounted following the release of the latest U.S. inflation reading. May's U.S. consumer price index came in at 8.6% - the highest reading since 1981.

"In the space of a few days, markets have gone from optimism that inflation might be on the cusp of plateauing, to rising apprehension that we could not only see higher prices, but that prices might well remain higher for a lot longer than originally thought," wrote CMC Markets Chief Markets Analyst Michael Hewson in a note on Monday.

The Federal Reserve is scheduled to meet this week, with policymakers expected to raise interest rates by a half-percentage point in a bid to tame inflation. But fears remain that the Fed will act aggressively and potentially plunge the economy into a recession.

Meanwhile, the 2-year U.S. treasury yield rose to its highest level since late 2007. The benchmark U.S. 10-year yield also moved higher, adding on to gains made on Friday.

Latest comments

What a mess.
This JJJ persons will make serious damage to US economy, probably by end of their terms will head US to great recession.
Buy gold/silver while its still cheap!
Buy wheat futures instead
you're whining for years that gold / silver are cheap, and they are still cheap. Simple reason, nobody wants to buy them
in case you didn't notice, gold and silver are also red !
Buy gold now. Very soon short squeeze in gold. Also, paper gold will be converted into real gold. Only reason gold may go down is because of the last people offsetting margin calls by selling gold. But every dip will be bought up very quick. Shorters will start covering their shorts and booom up up up
the begging gold bugs beggars are back, whining and crying for people to buy their metal. They're having been doing that for years, as well as calling for stocks and crypto to go to zero. And years after, they are still over and over, begging people to buy gold !
gold bug telling people to sell their crypto at the beginning of the bull run 5 years ago: Comments by Mart Bab BTC/USD Sep 02, 2017 9:40AM ET in fact, sell all crypto BTC/USD Sep 02, 2017 9:37AM ET Sell your bitcoins now my friends. Or you will get burned
.75 raise incoming
Powell is cut from same cloth as Biden.   He doesnt have the kahunas to do .75 and he wouldnt do that as he told his rich friends that he would telegraph his moves and they would have time to exit the market.   so he will go just 0.5bps but 0.5 next month and next month until we're at 10%.
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