U.S. stock futures inch up as investors brace for consumer price data
U.S. stock futures were edging higher on Friday, ahead of consumer price inflation data that’s expected to surge by the fastest pace in decades, adding to pressure for the Federal Reserve to start tapering at next week’s meeting.
What’s driving the markets? Thursday’s losses followed a three-session win streak for all three indexes, as investors rushed to buy beaten-down stocks following market upheaval from worries over the omicron variant of the coronavirus. Concerns over Chinese property companies as China Evergrande 3333, -1.67% was downgraded at Fitch also simmered in the background.
Read: Traders see next U.S. CPI reading close to 7% as volatile markets try to shake off omicron and Federal Reserve’s hawkish pivot
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