Salem Radio Network News Monday, August 2, 2021

Business

Futures fall sharply after June CPI data

(Reuters) – U.S. stock index futures fell sharply on Tuesday after data showed consumer prices rose solidly in June, as loosening COVID-19 restrictions allowed economic recovery to gather momentum.

The consumer price index increased 0.9% last month after advancing 0.6% in May, the Labor Department said, while core CPI rose 4.5% last month, above expectations of a 4% rise.

At 8:37 a.m. ET, Dow e-minis were down 50 points, or 0.14%, S&P 500 e-minis were down 9.75 points, or 0.22%, and Nasdaq 100 e-minis were down 35.5 points, or 0.24%.

(Reporting by Devik Jain in Bengaluru; Editing by Maju Samuel)

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