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Wholesale Inflation Accelerates in November as US Equity Futures Drop Pre-Bell
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Wholesale Inflation Accelerates in November as US Equity Futures Drop Pre-Bell
Dec 12, 2024 6:04 AM

08:54 AM EST, 12/12/2024 (MT Newswires) -- US equity futures were lower pre-bell Thursday as traders digested data on jobless claims and wholesale inflation after Wednesday's consumer inflation report.

Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures fell 0.6%.

On Wednesday, the US November consumer price index report showed a 0.3% increase in consumer prices for November, in line with estimates compiled by Bloomberg, following 0.2% growth previously.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.1% at $73.42 per barrel and US West Texas Intermediate crude 0.1% lower at $70.21 per barrel.

New unemployment claims, released at 8:30 am ET, rose to 242,000 in the week ended Dec. 7 from 225,000 in the preceding week, compared with estimates compiled by Bloomberg for a drop to 220,000 claims. Final demand for producer prices rose 0.4% month over month in November, compared with previous month's 0.3% gain and estimates for a 0.2% increase.

In other world markets, Japan's Nikkei closed 1.2% higher, Hong Kong's Hang Seng ended 1.2% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, UK's FTSE 100 flatlined, and Germany's DAX index gained 0.1% in Europe's early afternoon session.

In equities, DBV Technologies ( DBVT ) shares were up 10% pre-bell after the company said late Wednesday that the US Food and Drug Administration has formalized guidance on an accelerated approval for the Viaskin patch for peanut-allergic children aged between one and three years.

On the losing side, Keros Therapeutics ( KROS ) shares were down 73% after the company said it voluntarily halted two treatment arms in a phase 2 study of cibotercept in combination with background therapy in patients with pulmonary arterial hypertension.

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