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US index futures decline on macroeconomic data


February, 24 2023
watermark Economic news

At the end of the week, US index futures increased their fall on US inflation data. 


In particular, after the release of a report by the US Department of Commerce, according to which the price index of personal consumption expenditures (PCE) in January increased by 0.6% on a monthly basis after an increase of 0.2% in December. In annual terms, the PCE in January rose to 5.4% from December's 5.3%.


As you know, this index is the preferred indicator of inflation for the Federal Reserve System. And fresh macro data reinforced market participants' concerns about keeping the Fed's interest rates at high levels for a longer time.


According to analysts, by July, federal funds rates will peak at 5.36% and will remain near these levels until the end of the year.


As a result, e-mini futures on DJIA dropped by 345 points (or 1.04%), e-mini futures on S&P 500 lost 48.25 points (or 1.2%), and e-mini futures on Nasdaq 100 – 195.75 points (or 1.6%).


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