Wall Street Lower Ahead Of Closely Watched Consumer Inflation Data

Wall Street was poised for minor losses before the opening bell on Wednesday as markets awaited the latest inflation data, the last batch before the Federal Reserve meets next week.

Most market watchers expect U.S. central bank officials to approve an interest rate cut. I Photo: New York Stock Exchange Facebook

Most market watchers expect U.S. central bank officials to approve an interest rate cut, Yuri Kageyama and Matt Ott reported for the Associated Press (AP).

Futures for the S&P 500 dipped by about 0.1% in premarket trading, while futures for the Dow Jones Industrial Average fell by 0.3%. Meanwhile, in Europe at midday, France’s CAC 40 rose 0.3%, Germany’s DAX increased 0.5%, and Britain’s FTSE 100 edged up by 0.2%.

In currency trading, the U.S. dollar weakened to 141.69 Japanese yen from 142.41 yen, while the euro strengthened to $1.1050 from $1.1023.

There were few, if any, indications that the Harris-Biden debate had a broad impact on financial markets.

However, shares of Trump Media & Technology Group were down a substantial 12% in premarket trading, signaling a sell-off after Trump’s debate performance, which was marred by several falsehoods.

Bitcoin and other cryptocurrencies, which Trump has recently championed, also fell. Bitcoin dropped 1.5%, trading at $56,725.