Futures dip as investors gear up for key inflation report
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Bristol-Myers Squibb gains after FDA approves schizophrenia drug
Costco Wholesale slips after Q4 revenue misses estimates
Futures off: Dow 0.05%, S&P 500 0.12%, Nasdaq 0.26%
Updated at 6:58 a.m. ET/1058 GMT
By Johann M Cherian and Purvi Agarwal
Sept 27 (Reuters) -U.S. stock index futures inched lower onFriday, as investors refrained from placing big bets aheadof a crucial inflation report which could sway expectations on the size of upcoming interest rate cuts by the Federal Reserve.
The Commerce Department's report, due at 8:30 a.m. ET, is expected to show the personal consumption expenditure index - the Fed's preferred inflation gauge - rose by 2.3% in August, according to economists polled by Reuters, down from 2.5% the month before.
Inflation moderating towards the central bank's 2% target gave the Fed enough room to commence its policy easing cycle with a 50 basis point rate cut last week. Ensuring that unemployment rates do not shoot up will be its focus now.
"Even in the case of a small deviation from consensus, the recent shift in the Fed's focus to the employment side of its mandate means markets are less sensitive to inflation news," strategists at ING Bank said.
Data through the week points to a still-resilienteconomy overall, leaving traders uncertain about the Fed's next move. Odds of anotheroutsized move at the central bank'sNovember meeting stand at 50.8%, as per the CME Group's FedWatch Tool. Those for a 25 bps reduction stand at 49.2%.
At 6:58 a.m. ET, Dow E-minis 1YMcv1 were down 22 points, or 0.05%, S&P 500 E-minis EScv1 were down 7 points, or 0.12% and Nasdaq 100 E-minis NQcv1 were down 53.75 points, or 0.26%.
Futures tied to the Russell 2000 index RTYc1, which tracks small caps, were 0.2% higher.
The University of Michigan's final September estimate on consumer sentiment and remarks from Fed Governor Michelle Bowman are also in focus on the day.
Late on Thursday, Fed Governor Lisa Cook said the central bank's rare move earlier this month could address increased "downside risks" to employment.
Wall Street's main indexes ended higher in the previous session, with the S&P 500 .SPX closing at its highest levels on record after an upbeat forecast from Micron MU.O invigorated optimism around artificial intelligence.
The benchmark index along with the blue-chip Dow .DJI and tech-heavy Nasdaq are on track for their third-straight week of gains.
Among other stocks, Bristol Myers Squibb BMY.N surged 6% after the U.S. FDA approved its schizophrenia drug, providing patients with a treatment option that reduces symptoms of the mental disorder without common side effects.
Costco Wholesale COST.O dropped 1.3% after missing market expectations for fourth-quarter revenue, hurt by cautious consumer spending on pricier items at its membership-only stores and lower gasoline prices.
Dollar General DG.N slipped 2.1% after Citigroup downgraded the discount retail chain to "sell" from "neutral".
U.S.-listed shares of Chinese firms such as Alibaba BABA.N rose 0.7%, PDD Holdings PDD.O climbed 2.2% and NetEase NTES.O gained 2.1% trackingdomestic stocks after China's central bank lowered interest rates and injected liquidity into the banking system, in its latest stimulus move.
Miners such as Albemarle ALB.N added 2.8% and U.S.-listed shares of BHP BHP.N rose 1% after a report showed top Chinese cities Shanghai and Shenzhen are planning to lift key remaining restrictions on home purchases to attract potential buyers.
PCE, the shorter term view https://reut.rs/3WXgbkd
Reporting by Johann M Cherian and Purvi Agarwal in Bengaluru; Editing by Anil D'Silva and Maju Samuel
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
