By Oliver Gray
Investing.com - U.S. stock futures were trading slightly higher during Tuesday’s evening deals, after major benchmark averages posted their worst daily declines since June 2020 following a hotter than expected inflation reading which boosted bets of further aggressive interest rates rises from Federal Reserve policymakers.
By 7:15pm ET (11:15pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were up 0.1% apiece.
Ahead in Wednesday’s session, investors will be looking ahead to fresh monthly producer price data in order to further gauge current inflation pressures ahead of the Federal Reserve’s interest rate decision next week.
During Tuesday’s regular trade, the Dow Jones Industrial Average plunged 1,276.4 points or 3.9% to 31,105, the S&P 500 shed 4.3% to 3,932.7 and the NASDAQ Composite tanked 5.2% to 11,633.6.
Investors sold off heavily after August’s CPI print came in at 0.1%, higher than the expected -0.1% despite lower crude oil prices.
On the bond markets, United States 10-Year rates were at 3.412%.