Futures rebound as Tesla, other growth stocks gain

The S&P 500 closed down 1.1% on Wednesday, dragged lower by chipmakers after a bearish brokerage report by Citi Research on Intel CorpA spike in Brent crude prices above an eye-watering $123 a barrel has made investors anxious ahead of the U.S. consumer price index report on Friday.

Market participants fear a hot reading on inflation could keep the U.S. Federal Reserve on its path to raise interest rates aggressively against the backdrop of a volatile stock market, strong consumer spending and tight labor market. On Wednesday, International Monetary Fund First Deputy Managing Director Gita Gopinath said U.S. inflation could remain above the Fed's 2% target for a long time based on current projections, and overall, the risks are towards the possibility that this will require much more steeper increases in rates.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Judge gives former Tesla worker a deadline to accept $15 mln payout over racismA federal judge on Tuesday gave a Black former elevator operator at Tesla Inc two weeks to decide whether to accept $15 million in damages over racial abuse at the electric car company, far below the $137 million a jury had awarded. Why has he not accepted it yet? And for the record, the racism from Tesla was known throughout from the bottom to the top of the company. That's the report findings OMG just take it. You're going to earn between $3-5million over your life of working anyway
Source: Reuters - 🏆 2. / 97 Read more »