U.S. Stock Futures Are Lower As Markets Struggle to Find Their Feet
U.S. stock futures are lower. Pre-market action is indicating a slightly lower open for the S&P 500 as markets struggle to find their feet following Tuesday’s disappointing August CPI reading. Treasury Yields are moving higher this morning with the 2-Yr at 3.84% and the 10-Yr at 3.44%
Weekly jobless claims showed initial claims at 213k, lower than estimates of 227k and the prior month read of 218k. Retail sales for August rose unexpectedly 0.3% month over month (vs. -0.1% est.) while retail sales ex-autos declined 0.3% month over month (vs. 0.0% est.). A tentative deal has been reached between railway companies and Unions avoiding a strike which threatened to put pressure on US supply chains. Asian markets finished mixed and European markets are lower in pre-market trading.