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Dow Jones futures slightly in the red ahead of Important US data due shortly
At 12.30pm GMT the US will release their latest- Q1 employment cost index. This is an important number for the Fed and their decision making process tomorrow evening, but it is not the only thing to determine what the Fed might, or might not deliver tomorrow. The latest US earnings reports this morning have been somewhat mixed, with top line beats for Coca Cola and PayPal, but slightly disappointing numbers from Eli Lilly and only a slight beat from MacDonalds. So, all this has not really impacted the US equity futures, but this employment cost index (ECI) might, if it is wide of the mark in either direction. The index rose by just 0.9% in Q3, 2023. It is forecast to rise by 1% in Q1, 2024. The Dow Jones futures are slightly in the red now, currently indicating a reopening at around 38,355, where they were higher earlier. The index closed last night at 38,386.
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