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Barchart
Oleksandr Pylypenko

Stock Index Futures Move Lower Ahead of U.S. Inflation Data, Debt Ceiling Worries Weigh

June S&P 500 futures (ESM23) are down -0.20%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.23% this morning as investors looked ahead to a crucial U.S. inflation report that could provide fresh clues on the future of the Fed’s monetary policy.

In Tuesday’s trading session, PayPal Holdings Inc (PYPL) plunged over -12% and was the top percentage loser on the benchmark S&P 500 after the payment tech company lowered its 2023 operating margin outlook and saw a rating downgrade from Credit Suisse. Semiconductor stocks also weighed on the broader market following a more than -5% drop in Skyworks Solutions (SWKS) after the chipmaker delivered downbeat Q3 guidance. On the positive side, DaVita Inc (DVA) climbed over +12% after the kidney dialysis services company reported upbeat Q1 results and raised its 2023 guidance.

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