U.S. Stock Futures Are Lower This Morning

U.S. stock futures are lower:   CPI rose 7.5% annually versus estimate of 7.2% and the monthly gauge increased 0.6% versus consensus of 0.5%.  Removing food and energy costs, CPI grew 6%, relative to 5.9% consensus.  The annual increase was the highest reading since February 1982 and this report will undoubtedly increase pressure on the Fed to heighten rates quicker.  Jobless claims from last week was 223k compared to 230k estimate.  Post announcement, the 10y yields increased roughly 3 basis points and equity futures inched lower and the 2y treasury bond, the most sensitive duration to interest rate changes, moved up roughly 10 basis points to 1.45% from its close at 1.35%.  Additionally, Nasdaq futures & European markets declined after the release.