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The
core personal consumption expenditure (PCE) index is expected to
have risen 0.4% on a monthly basis in January from 0.3% in
December. Annual core PCE, however, is seen easing to 4.3% last
month from 4.4%. The data is expected at 8:30 a.m. ET.
The three major U.S. indexes are set for weekly losses despite a
modest rebound in the previous session, with the blue-chip Dow
set for post losses for February.
After a strong January, equity markets have retreated this month
as a slew of economic data fed into worries that the central
bank might have to keep interest rates higher for longer on
sticky inflation and a resilient labor market.
Market participants expect the Fed fund rates to peak at 5.35%
by July and stay near those levels till year-end.
Megacap stocks like Tesla Inc, Amazon.com Inc and Nvidia Corp
slid around 1% each in premarket trading as yield on the
benchmark U.S. 10-year Treasury note edged up. [US/]
At 6:40 a.m. ET, Dow e-minis were down 164 points, or 0.49%, S&P
500 e-minis were down 24 points, or 0.6%, and Nasdaq 100 e-minis
were down 111.5 points, or 0.91%.
Separately, January home sales data and the University of
Michigan's final reading of consumer sentiment for February are
also due later in the day.
A string of Fed policymakers including Cleveland Fed President
Loretta Mester and Boston Fed President Susan Collins are also
slated to speak.
Boeing Co slid 3% after the Federal Aviation Administration said
the planemaker temporarily halted deliveries of its 787
Dreamliner jets.
Warner Bros Discovery Inc fell 4.9% after reporting a greater
than expected quarterly loss due to one-off charges related to
Warner Bros-Discovery merger.
(Reporting by Johann M Cherian in Bengaluru; Editing by Arun
Koyyur)
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