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Stock Futures Are Higher This Morning As Market Shrugs Off February CPI Data

United Asset Strategies |

U.S. stock futures are higher. Stock futures are higher this morning as the market shrugs off February Consumer Price Index (CPI) data, which was slightly hotter than expected. Data from the closely watched inflation report shows that the CPI index rose 0.4% as expected for the month and 3.2% on the year, slightly ahead of expectations for a 3.1% rise. Core CPI increased 0.4% for the month and 3.8%, exceeding forecasts of 0.3% and 3.7%, respectively. Yields are moving modestly higher in response to the data. In international markets, Asian stock indexes concluded with mixed results; the Hong Kong Hang Seng Index posted a 3% gain, and the Nikkei 225 continued declines after corporate inflation data beat expectations. European markets are moving broadly higher in afternoon trading. Gold prices are reversing course and crude prices are also lower.

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