People wait.
Brendan McDermid.
The S&P 500 index closed the previous day on a sour note, as investors await inflation data later in the day that could put more pressure on the Federal Reserve to control rising prices.
The S&P 500 futures were up 0.21%, the Dow Jones futures were up 0.11%, and the Nasdaq 100 futures were up 0.21% in early European trading.
The consumer price index for November will be released by the Bureau of Labor Statistics, which is expected to show a 6.8% increase compared with the previous year. This would be the biggest jump since 1982. October's inflation was a 31 year high of 6.2%.
"We can see today's report as a proxy for next week's Federal Reserve meeting because the hotter inflation, the more pressure it piles on the Fed to increase their pace of tapering," Matt Simpson, analyst at City Index said.
The Asian stocks fell after the ratings agency said that Evergrande was in default.
Hong Kong's Hang Seng fell 1.24% while the Shanghai Composite was down 0.18%. The Tokyo's Nikkei was 1% lower.
China's more highly indebted property developers are about to embark on a massive debt restructuring exercise, raising fears that China's growth will take a dip next year. Jeffrey Halley, senior market analyst at OANDA, said that it would keep Asian currencies and regional stock markets nervous.
The pan-continental Stoxx 600 index was down in Europe. After data showed the UK economy almost ground to a halt in October, and as employees were encouraged to work from home from Monday, the FTSE 100 fell by 0.1%.
Oil rose. The price of crude was higher than the price of gasoline.
Cryptocurrencies slid again, driven lower by the prospect of another boost to the dollar from a strong inflation reading later on, and given the caution towards risk assets because of the Omicron virus variant. Solana's sol lost 5.4% and cardano's ada fell 4%.
The yield on the 10-year US Treasury note increased by 3 basis points. The dollar index was up 0.15%.
Business Insider has an original article.
