NEW YORK — Stocks are opening lower on Wall Street onceagain, on speed to close out another losing month. The S&P 500 was off 0.5% in the early going Friday. The standard index is heading for its 6th weekly loss in the last 7, one of its worst months giventhat the 2020 coronavirus crash and its 3rd straight losing quarter. Bond markets were revealing more calm than they had justrecently, as bond yields unwinded. Nike stock plunged to one of the worst losses on Wall Street after it stated it had to slash rates to clear allofasudden puffedup stocks.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows listedbelow.
Wall Street pointed towards little gains priorto the open early Friday after financiers got more threatening inflation information from Europe as they waited for a U.S. federalgovernment report on customer costs.
Futures for the Dow Jones Industrial Average were 0.1% greater and futures for the S&P 500 increased 0.3% after the criteria fell to its mostaffordable level in nearly 2 years on Thursday.
Wall Street will turn its attention Friday to a customer costs report from the Commerce Department that might offer some insight on the most current inflation levels.
Last month’s report revealed that customer costs increased 6.3% in July from a year earlier after publishing an yearly boost of 6.8% in June, the greatest dive giventhat1982 Falling energy rates assisted ease bring rates down in July, raising hopes that the rising expenses of whatever from fuel to food might have peaked.
There is some stickingaround hope that the Fed may signal a smallamounts in rate increases if inflation were to program additional indications of reducing.
In the United States, the Commerce Department’s individual usage expenses (PCE) index is less well understood than the Labor Department’s customer rate index (CPI).
But the Fed chooses the PCE index as a gauge of inflationary pressures, partially because the Commerce index efforts to procedure how customers change to increasing rates by, for example, replacing moreaffordable shop brandnames for moreexpensive name brandnames.
Shares of Dow part Nike Inc. moved 11% in premarket trading after the shoes and clothing business reported late Thursday that stocks swelled 44% from a year earlier.
Global stocks were combined