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Dow Jones futures slightly in the red this morning

The Dow Jones was the worst performing major US stock market index yesterday. The Dow fell to a low at 37,373 after reopening at 37,523. However, it did manage to reclaim that opening level by the close, but only just. The index closed 157 points lower, at 37,525, with a loss of 0.42% on the day. As with most US markets right now, the index is waiting to see what impact the US CPI report will have tomorrow. The markets are geared up for a relatively benign set of data. However, anything that suggests US inflation remains sticky and not dropping back further could provide significant headwinds for the index. Of course the Dow Jones is not much below the all time high set in December, when it topped out at 37,790. Clearly, the CPI report could decide, if the index is about to launch another push and perhaps take out 38k, or reverse further below that all time high and mark it as a level that could remain in place for some time to come. It is all to play for really and soon we might see which was this is going to blow. Right now the index future is a little lower this morning and currently pricing the reopening at around 37,482 
 

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