US futures rebound slightly after Tuesday's rout
NEW YORK (AP) — U.S. futures rebounded slightly before markets opened Wednesday, a day after Wall Street had its biggest single-day route in more than two years as a report showed inflation still has a surprisingly strong grip on the U.S. economy.
Futures for the Dow Jones industrials inched up 0.1% while futures for the S&P were up 0.2%.
Tuesday’s report showed U.S. inflation slowed only to 8.3% in August, instead of the 8.1% economists expected.
That dashed hopes that inflation was falling back to more normal levels after peaking in June at 9.1%, allowing the Federal Reserve to moderate its interest rate hikes.