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Stocks Fall Pre-Bell Ahead of Key Inflation Report; Asia, Europe Strong
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Stocks Fall Pre-Bell Ahead of Key Inflation Report; Asia, Europe Strong
Jul 11, 2024 4:49 AM

07:19 AM EDT, 07/11/2024 (MT Newswires) -- The benchmark US stock measures were pointing lower before the opening bell Thursday as traders brace for key inflation data.

Standard & Poor's 500, the Nasdaq and the Dow Jones Industrial Average slipped 0.1% each in the premarket. Asian and European exchanges were tracking in the green.

The consumer price inflation report for June is scheduled for 8:30 am ET. The economic calendar also has the weekly jobless claims bulletin at 8:30 am, followed by the weekly EIA natural gas inventories report at 10:30 am.

Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 11:30 am, while St. Louis Fed President Alberto Musalem speaks at 1 pm.

Shares of PepsiCo ( PEP ) declined 1.7% pre-bell as the beverage and snacks company reported its fiscal second-quarter results. Delta Air Lines ( DAL ) and ConAgra Brands ( CAG ) are also scheduled to post earnings before the bell, among others.

Costco Wholesale's ( COST ) stock inclined 3.1% after the warehouse chain hiked its membership fees. WD-40 ( WDFC ) rose 12% as the maker of lubricants reported a year-over-year increase in fiscal third-quarter results.

Before the open, bitcoin rose 1.5% to $58,295, West Texas Intermediate crude oil gained 0.4% to $82.43 a barrel, yields on 10-year Treasuries edged up 0.6 basis points to 4.285% and gold traded up 0.4% at $2,388 an ounce.

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