U.S. stock futures headed lower Wednesday morning as consumer prices remain at 40-year highs.
The first of this week’s two big inflation reports — the Consumer Price Index — came in at 8.3% for April, above consensus estimates of 8.1%, which sent futures sinking again Wednesday morning.
Core CPI, which excludes food and energy, also rose a higher-than-expected 6.2%. Meanwhile, inflation-adjusted earnings declined for workers, falling 2.6% as the cost of living surges.
The inflation report sent the 10-year Treasury yield back above 3% as investors await Thursday’s Producer Price Index report, which will give us more information on how inflation is affecting producers, who pass rising expenses down to consumers.
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Let’s take a look at continued earnings season flow in IT service management company Marqeta.
Marqeta is a payment processing and card issuing platform that acts as a bridge between traditional payment processors and more disruptive companies like Affirm, DoorDash and Square.
As an example of what Marqeta does, the company partnered with Square to introduce the Square Card for small business owners. With this card, owners can access their earnings immediately and without paying additional fees to do so, allowing them to reinvest in their business to keep it running.
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The Strike Price is the price at which a derivative — an option play — can be exercised, and refers to the price of the derivative’s underlying asset. In a call option, the strike price is the price at which the option holder can purchase the underlying security. For a put option, the strike price is the price at which the option holder can sell the underlying security.
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