S&P 500 and Nasdaq futures extended their losses on Thursday after August producer price data topped forecasts on an annual basis, even as the monthly reading matched expectations. Dow, S&P 500, and Nasdaq 100 E-minis all traded lower ahead of the open.
S&P 500 and Nasdaq futures extended their losses slightly on Thursday after producer prices data for August came in above forecast.
A Labor Department report showed the Producer Price Index rose 5.4% on an annual basis in August, compared with estimates of a 5.3% increase. That reading points to persistent inflation pressure at the producer level.
On a monthly basis, the index rose 0.4% compared with an estimated 0.4% rise, matching expectations even as the annual figure surprised to the upside.
At 8:34 a.m. ET, Dow E-minis were down 152 points, or 0.29%. S&P 500 E-minis were down 36.25 points, or 0.47%. Nasdaq 100 E-minis fell 325 points, or 1.1%, the sharpest decline among the three.
Source: Investing.com
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