Dow, S&P 500, and Nasdaq 100 futures decline ahead of May US inflation data projected at 4.2% annual rate.
US stock index futures fell in European trading on Wednesday, led by a 0.61% drop in Nasdaq 100 futures to near 28,950. Dow Jones futures lost 0.30%, while S&P 500 futures declined 0.40% to around 7,360. Geopolitical risks in the Middle East intensified after Iran’s IRGC launched a drone attack on the US Fifth Fleet in Bahrain, following US retaliatory strikes on Iranian targets.
May’s US inflation data is expected to show a 4.2% annual rise, up from April’s 3.8%, which would mark the highest level since April 2023. Monthly consumer prices are projected to increase by 0.5%. Tuesday’s session saw the Dow edge up 0.17%, while the S&P 500 and Nasdaq fell 0.26% and 0.97%, respectively, amid a tech sell-off.