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Consumer Prices Tick Higher in February as US Equity Futures Turn Mixed Pre-Bell
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Consumer Prices Tick Higher in February as US Equity Futures Turn Mixed Pre-Bell
Mar 12, 2024 6:05 AM

08:58 AM EDT, 03/12/2024 (MT Newswires) -- US equities were poised for a mixed open Tuesday as traders digested the crucial monthly consumer inflation report.

Dow Jones Industrial Average futures slipped 0.01%, S&P 500 futures gained 0.2%, and Nasdaq futures were up 0.5%.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $82.36 per barrel and US West Texas Intermediate crude up 0.2% at $78.03 per barrel.

Consumer prices advanced 0.4% as expected in February following a 0.3% rise in the preceding month. Meanwhile, core prices rose by 0.4% for the month versus a 0.4% gain previously, ahead of expectations for a 0.3% increase.

In other world markets, Japan's Nikkei closed 0.06% lower, Hong Kong's Hang Seng ended 3.1% higher, and China's Shanghai Composite finished 0.4% lower. Meanwhile, UK's FTSE 100 rose 1.2% and Germany's DAX index increased 0.5% in Europe's early afternoon session.

In equities, shares of Oracle (ORCL) were 11% higher pre-bell after the company posted higher fiscal Q3 adjusted earnings and revenue. Regulus Therapeutics ( RGLS ) shares surged 86% after the company said it secured an oversubscribed $100 million equity financing.

On the losing side, On Holding ( ONON ) shares were down 13% after the company reported it swung to Q4 adjusted loss. Acadia Pharmaceuticals ( ACAD ) shares fell 16% after the company said that its schizophrenia drug failed to meet its primary endpoint in a late-stage study.

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