FX.co ★ US Futures Decline on Rate Hike Fears

US stock futures extended losses on Thursday after hotter‑than‑expected consumer inflation data reinforced expectations of more aggressive Federal Reserve interest rate hikes. S&P 500 and Nasdaq 100 futures slipped 0.3% and 0.9%, respectively, while Dow futures were little changed.

In Wednesday’s cash session, the S&P 500 fell 1.11% and the Nasdaq Composite dropped 1.88%, with technology shares leading the decline amid mounting concerns about the sustainability and valuation of AI‑related investments.

Data released Wednesday showed annual consumer price inflation accelerated to 3.7% in September, the highest in four months and above the consensus forecast of 3.6%. Investors are now looking ahead to Thursday’s producer price inflation report, as well as the latest readings on retail sales and weekly initial jobless claims.

On the corporate front, earnings are due from Charles Schwab, US Bancorp, Freeport‑McMoRan, American Airlines, Snap, and several other major companies.