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Stock index futures were slightly lower on Wednesday as the market remained cautious heading into an important week.
S&P futures (SPX) -0.2%Nasdaq 100 Futures (NDX: IND) -0.2% and Dow futures (INDU) -0.1% he was a little down.
“There has never been a bigger one news to come, markets are still on something similar to next week’s calendar, which includes the publication of the US CPI and the Fed and ECB decisions,” Deutsche Bank’s Jim Reid wrote.
The 10-year Treasury yield (US10Y) rose 2 basis points to 3.53% and the 2-year yield (US2Y) fell 1 basis point to 4.35%.
In the previous session, the 2s10s curve “closed sharply at this point, after falling -2.1bps on the day to -84.1bps, which we haven’t seen in four decades,” Reid said.
The financial calendar is light. Updated estimates of Q3 non-performing loans and operating income arrive before the bell. Economists expect productivity to be revised up to a 0.6% rise, while labor costs are revised up to a 3.1% rise.
“This is not really final because GDP will be revised in the future, changing all these numbers,” UBS’s Paul Donovan said. “At the moment, the expectation is a decrease in the price of labor, and it emphasizes how the decrease in the price of goods is related to the labor (and thus the share of profit in the increase of the price of goods).
Among active stocks, MongoDB is trailing in earnings.
