Investors Await Fed Move, Inflation Data as US Futures Trend Lower in Tuesday's Premarket Session
MT Newswires 11/06/2024 20:16

08:16 AM EDT, 06/11/2024 (MT Newswires) -- US stock futures were trending lower in recent premarket activity Tuesday as investors await the Federal Reserve's interest rate decision and key inflation data coming out Wednesday.

The Dow Jones Industrial Average futures were down 0.42%, S&P 500 futures were off 0.34%, and Nasdaq futures were moving 0.34% lower.

Oil prices were moving lower, with front-month global benchmarks Brent crude declining 0.09% and West Texas Intermediate crude down 0.10%.

The Fed, which kicks off its June meeting later in the day, is expected to keep rates unchanged when it announces its decision Wednesday.

And inflation data, which is also scheduled to be released on Wednesday, is expected to show that consumer prices rose 0.1% in May from April, when it increased 0.3% from the previous month, according to Annual rates are expected to remain unchanged at 3.4%.

On the winning side, shares of Nauticus Robotics (KITT) jumped 53%, adding to a 49% gain on Monday. ShiftPixy (PIXY) stock surged 27%, following a 2% loss the previous session. And shares of QuantaSing Group (QSG) advanced 23% after it said its board of directors authorized the repurchase of up to $20 million of its class A ordinary shares in the form of American depositary shares.

On the losing side, shares of Target Hospitality (TH) plunged 32% after it said late Monday that it has received notice that the US government will terminate the existing South Texas Family Residential Center services deal with the company's migrant programming partner. Contango Ore's (CTGO) shares tumbled 21% after the company announced late Monday a public share offering with accompanying warrants. And Big Tree Cloud's (DSY) shares shed 22% after soaring 90% on Monday.


The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.

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