U.S. stock futures are edging higher as investors digest fresh data on producer prices.
Turmoil in U.K. bond markets on helped drag the Nasdaq Composite into a bear market.
Tweet on U.S stocks future and British pound& oil
U.S. stock futures are edging higher as turmoil in U.K. bond markets continues.
-S&P 500 futures edged up 0.2%
-Dow Jones Industrial climbed 0.7%.
-The British pound has rebounded 0.6%, after a late-day selloff Tuesday
-Oil prices are higher. Brent crude slipped 0.3% to $93.99 pic.twitter.com/pj9w1xhDMz
— The_Journalbiz (@the_journalbiz) October 12, 2022
Factset Chart on Nasdaq /S&P500
U.S. stock futures are inching up. S&P 500 futures edged up 0.2% and contracts on the Dow Jones Industrial Average climbed 0.7%. Tech-heavy Nasdaq-100 futures were up 0.3%.
U.K. markets are mixed;
The British pound has rebounded 0.6%, after a late-day selloff Tuesday, driven by concerns over the Bank of England’s response to volatility in the U.K. government debt market.
Investors sold U.K. government bonds Wednesday, with the 10-year yield rising to 4.563%, from 4.431% Tuesday.
Oil prices are higher. Brent crude slipped 0.3% to $93.99, pulling back further from highs reached when the OPEC+ group of oil producers agreed last week to slash output.
On tap today: Investors will eye minutes from the Federal Reserve’s last policy meeting at 2 p.m. ET.