From Yahoo Finance: 2024-04-10 08:46:00

US stocks are set to open lower after a surprise uptick in consumer prices, with Dow Jones, S&P 500, and Nasdaq 100 futures down over 1%. The 10-year Treasury yield rose above 4.5% for the first time in 2024. March’s Consumer Price Index (CPI) jumped 0.4% from the previous month and 3.5% from last year, exceeding economist forecasts. With the hotter-than-expected inflation data, investors may expect fewer rate cuts from the Fed, with 75% betting on rates holding steady in June. First-quarter earnings season began with Delta’s results surpassing expectations.

Delta reported a 14% year-over-year growth in managed corporate sales in the first quarter, signaling strong demand for travel despite potential spending clampdowns ahead of the election. While markets are showing signs of weakness, Nvidia’s decline below the 50-day moving average suggests potential rough patches ahead. JP Morgan strategists predict the next bitcoin halving on April 16, anticipating potential price gains. The S&P 500 has not hit a new record in seven consecutive sessions, marking the longest period without an all-time high since January.



Read more at Yahoo Finance: US futures sink as inflation report comes in hot