Before the Bell | Stock futures point to more losses amid surging inflation

Moomoo Breakfast US wrote a column · Feb 11, 2022 19:15

By Danilo

Hey, mooers! Here are things you need to know before the opening bell:

- Stock futures were lower in early morning trading Friday after a sharp Thursday sell-off on Wall Street spurred by the hottest inflation reading in four decades.

- Christine Lagarde has suggested financial markets that have been pricing in faster-than-expected European interest rate hikes should, as they say, cool their jets.

Market Snapshot

Stock futures were lower in early morning trading Friday after a sharp Thursday sell-off on Wall Street spurred by the hottest inflation reading in four decades.

Futures on the $Dow Jones Industrial Average (.DJI.US)$ dropped 118 points, or 0.4%. $S&P 500 Index (.SPX.US)$ futures slipped 0.5% and $NASDAQ 100 Index (.NDX.US)$ futures dropped 0.6%.

Source: Bloomberg

Market Temperature

Before the Bell | Stock futures point to more losses amid surging inflation

Stock futures point to more losses amid surging inflation
U.S. stock futures fell and bond yields largely rose, suggesting that the volatility driven by higher-than-expected inflation data would extend into a second day. The S&P 500 is on track for its worst weekly performance since mid-January.

Lagarde pushes pack against hasty interest rate action
Christine Lagarde has suggested financial markets that have been pricing in faster-than-expected European interest rate hikes should, as they say, cool their jets.

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Elon Musk expects starship to deliver launches at lower costs
Starship should be able to reach orbits for less than $10 million a flight within two to three years, Elon Musk said during a presentation at SpaceX's southern Texas facility, where the company plans to launch the spacecraft. $Tesla (TSLA.US)$

Zillow's shuttered home-flipping business lost $881 million in 2021
The real-estate company says in a letter to shareholders that it is targeting revenue of $5 billion by 2025. $Zillow-C (Z.US)$ $Zillow-A (ZG.US)$

Binance to invest in Forbes
The cryptocurrency exchange operator is making a $200 million investment in the publisher of Forbes magazine, an unusual tie-up.

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