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US stock futures take a hit on CPI data-check out the S+P 500 now

The reaction across the markets from the higher than forecast US CPI data has seen the dollar catapult higher and US stock futures fall further. That is not a surprise here and I did warn readers that a higher CPI print might be forthcoming this week. Well, it has now and that has seriously dented the opening outlook for the US stock markets this afternoon. The S+P 500 futures have crumbled on this news and so have the Dow Jones and Nasdaq 100 too. The S+P 500 was holding above 5,000 ahead of the CPI report. It is now pricing a reopening at below 4,965. So, that technically negative close last night for the index just got underwritten some more by this CPI data 

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