Dow Jones futures whacked on CPI data

There have been so many reactions to the hotter than forecast US CPI data and many of those concern anything that is remotely interest rate sensitive. So, it seems the Fed was not only right, but wise too in advocating caution about further rate cuts. Of course this kind of blows the US President into touch and makes him look as foolhardy as his comments on the matter of monetary policy. So, what this has done is to sent US yields sharply higher and that in turn has seen US stock futures take a hit across the board. The Dow Jones had been making something of a recovery across the futures prices leading into this report. They have now taken a hit and are now pricing a sharply lower opening a little later this afternoon. That call is right now close to 44,150