NEW YORK (Agefi-Dow Jones)–U.S. stock futures tumbled into negative territory on Friday after stronger-than-expected U.S. inflation data for June came out, arguing for an acceleration of the monetary tightening cycle initiated by the Federal Reserve (Fed).
Around 3:00 p.m., the S&P 500 futures contract was down 1.6%, after trading higher ahead of the release of June inflation figures. Tech stocks, sensitive to rising interest rates, are expected to open in the red, with Nasdaq 100 futures down 2.2%.
Consumer prices in the United States rose 9.1% year on year in June, exceeding the forecasts of economists polled by the Wall Street Journal, who had forecast an inflation rate of 8.8%.
Over one month, consumer prices rose by 1.3% in June, in seasonally adjusted data. Economists expected an increase of 1.1%.
The core index, which excludes food and energy prices, was up 5.9% over one year and 0.7% over one month. Economists polled by the Wall Street Journal were anticipating an increase in the core index of 5.7% over one year and 0.5% over one month.
-Joe Wallace, The Wall Street Journal (French version Eric Chalmet) ed: LBO
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July 13, 2022 09:12 ET (13:12 GMT)