Stock index futures are down as investors await the Federal Reserve’s inflation gauge. Negative corporate news from Marvell Technology and Dell Technologies is affecting futures. Bond yields are also higher. Wall Street indices closed higher yesterday, with Snowflake and chip stocks gaining, but Hormel Foods plunged. Q2 GDP growth was revised higher, jobless claims fell, and pending home sales dropped. Fed Governor Waller reiterated his call for lower interest rates, with rate futures pricing in a high probability of a rate cut next month. Today, focus is on the core PCE price index and personal spending and income data. The U.S. Consumer Sentiment Index, Chicago PMI, and Wholesale Inventories data will also be released. In the bond market, the yield on the 10-year U.S. Treasury note is up. The Euro Stoxx 50 Index is down, with British bank stocks falling and investors awaiting key U.S. inflation data. Data from Germany, France, Spain, and Italy was released today. Asian stock markets settled mixed, with China’s Shanghai Composite Index up and Japan’s Nikkei 225 down. In China, consumer stocks led gains as tech companies issued warnings. Japan’s Nikkei 225 closed lower on weak economic data. Pre-market U.S. stock movers include Marvell Technology, Dell Technologies, Affirm Holdings, Autodesk, and Ulta Beauty. Today’s U.S. earnings spotlight features Frontline and BRP Inc.

Read more at Yahoo Finance: Stock Index Futures Slip With Focus on U.S. PCE Inflation Data