U.S. Stock Futures Move Higher After Losses

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U.S. Stock Futures Move Higher After Losses
Credit: © Reuters.

By Oliver Gray

Investing.com - U.S. Stock futures traded higher in early APAC deals on Wednesday, after major benchmark indices registered losses in the previous session amid rising investor concerns on economic recovery and the Federal Reserve’s tapering of asset purchases after weaker consumer price data suggested that inflation had peaked, while supply constraints persist.

During regular trade, Dow Jones Industrial Average fell 292.06 points or 0.8%, to 34577.58, the S&P 500 lost 25.66 points or 0.57% to 4443.06, while the NASDAQ Composite slipped 67.82 points or 0.45% to 15037.76, posting the fifth consecutive session of losses.

Among stocks, companies tied to the economic recovery edged lower during regular trade, with United Airlines Holdings Inc (NASDAQ: UAL ) down 2.16% General Electric Company (NYSE: GE ) falling 3.91% lower and Bank of America Corp (NYSE: BAC ) losing 2.69% Meantime, Apple Inc (NASDAQ: AAPL ) shares lost 0.96% after introducing the iPhone 13 at its annual product unveiling event.

Among data, consumer prices rose 0.3% from July and 5.3% from a year ago. Stripping out food and energy, the consumer price index was up just 0.1% for the month.

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