US equity futures turn red after US PPI release-check out the Nasdaq 100

There are a number of reactions playing out across the markets after the release of the US PPI data. That is usually the case and today is no exception. The US stock markets have not taken kindly to this data either, as a number of analysts now really start to question the prospect of a Fed rate cut at all this summer. The simple truth is that the data simply does not support such a move and with prices still on the rebound, it puts the Doves on the FOMC in an increasingly untenable position. So, the Nasdaq 100 futures were pricing a higher opening a little earlier, to around 18,215 at one stage. They are now pricing that opening below 18,175, remembering the index closed last night at 18,198