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Nasdaq 100 futures now off the boil ahead of US data releases this afternoon

As the European stock markets fall back even further (DAX now approaching 18,400 and CAC towards recent lows), the Nasdaq 100 futures are falling a little now and currently below the 19,600 level which was holding up earlier today. At 12.30pm we have some relatively important US data releases- the usual weekly jobless claims and the May PPI (Producer Price Index). The PPI data is of particular note here as that could have the most impact on the US markets and perhaps the Nasdaq too. The markets are expecting a fall in the monthly reading, but the core annualised rate is expected to remain unchanged at 2.4%. There will be more to add and whatever impact that has when the data is released. The Nasdaq 100 futures are currently pricing the reopening at around 19,565, from an earlier implied opening to as high as 19,640.

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