Stock Futures Fall Ahead of Producer-Price Data

May 12, 2022 3:40 a.m. ET

U.S. stock futures slipped ahead of producer price data, a day after consumer-inflation data showed signs of moderation but still beat economists’ expectations.

Futures on the S&P 500 fell 0.5% and futures on the Dow Jones Industrial Average fell 0.4%. Contracts do not necessarily predict market movements after the market opens.

In Europe, the Stoxx Europe 600 index was 2.1% lower in morning trade, dragging down the consumer goods and energy sectors.

BP fell 4% and Anheuser-Busch InBev fell 2.3%.

The UK’s FTSE 100 fell 2%. Other stock indexes in Europe also mostly slid, with France’s CAC 40 down 2.2%, Britain’s FTSE 250 down 1.5% and Germany’s DAX down 2.2%.

The Swiss franc, euro and British pound fell 0.3%, 0.6% and 0.5% against the US dollar, respectively.

On the commodity front, Brent crude fell 2.1% to $105.28 a barrel. Gold also fell 0.4 percent to $1,846.70 an ounce.

The German 10-year bundle yield fell to 0.889% and the yield on the British government’s 10-year debt so-called gilt fell to 1.742%. The yield on the 10-year US Treasury note fell from 2.918% to 2.833%. Output is inversely proportional to price.

In Asia, indexes were mostly lower, with Hong Kong’s Hang Seng down 2.2%, Japan’s Nikkei 225 down 1.8% and China’s Shanghai Composite down 0.1%.

Traders worked on the floor of the New York Stock Exchange on Wednesday.


Photo:

BRENDAN MCDERMID / REUTERS

—An artificial intelligence engine was used to create this article.

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https://www.wsj.com/articles/global-stocks-markets-dow-update-05-12-2022-11652341141?mod=rss_markets_main Stock Futures Fall Ahead of Producer-Price Data

Edmund DeMarche

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