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18 min ago

Stock futures extend slide after PPI, other economic data

Stock-index futures extended a drop after a January reading on the producer price index came in hotter than expected and other economic data pointed to underlying economic strength that could force the Federal Reserve to be more aggressive in tightening monetary policy.

U.S. wholesale prices jumped 0.7% in January to mark the biggest gain since last summer, offering further proof that inflation is sticky and unlikely to decline rapidly. Economists polled by The Wall Street Journal had forecast a 0.4% increase.

First-time weekly jobless claims remained below the 200,000 threshold.

Dow futures fell 161 points, or 0.5%, while S&P 500 futures shed 0.7% and Nasdaq-100 futures dropped 0.8%.

BullBear52x wrote:Lets trade! same playbook, need to see LL and closed under LL to say the trend reversal is at hand.

BullBear52x wrote:How momentum helps me in day trade? bearish crossed need to confirm with new LL, if not, the bottom is here or near. day trade made simple