Wall St Futures Dip on August Inflation Data — SkimNews
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- Wall Street futures pared gains slightly following the release of August US inflation data, reversing earlier pre-market optimism according to Reuters.
- US consumer inflation picked up in August with gas prices marching higher due to Middle East conflict, a development CNBC framed as potentially locking in a Federal Reserve interest rate hike.
Why it matters: Gas prices rising on Middle East conflict pushed August inflation higher, which CNBC says likely keeps the Fed on hold with rates elevated rather than cutting. Traders who had positioned for an earlier pivot now face the prospect of tighter policy for longer, with Wall Street futures already reflecting the strain in real time.
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