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U.S. stock futures jump after report shows inflation cooling

Stock markets drop sharply upon opening Thursday over fears of a COVID-19 resurgence
Posted at 9:12 AM, Nov 10, 2022

(AP) — Wall Street looks set to jump Thursday after a government report showed inflation eased by even more than economists expected last month.

Futures for U.S. stock indexes surged 2% or more, indicating a big increase once trading begins, while Treasury yields fell dramatically as bond markets relaxed.

Even bitcoin rose, clawing back some of its steep plunge from prior days caused the crypto industry’s latest crisis of confidence.

A slowdown in inflation could mean the Federal Reserve won’t have to be so aggressive about raising interest rates.

Such hikes have been the main reason for Wall Street’s troubles this year and are threatening a recession.