Futures fall as tech stocks lag ahead amid inflation worries

On Wednesday, U.S. stock index futures fell for the third straight session, led by losses in rate-sensitive tech stocks on fears that rising inflation could force the U.S. Federal Reserve to pare back its support soon.

The yield on 10-year Treasury notes touched a one-week high, driving down shares of Apple, Facebook, and Microsoft by about 1% premarket.

stock chart

Medha Singh for Reuters:

Tech and other growth stocks are sensitive to yields as their value rests heavily on earnings years into the future, which are discounted more deeply when expectations of interest rates hikes rise.

Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears of inflation and roiled stock markets, despite reassurances from Fed officials that the rise in prices would be temporary.

Wall Street’s main indexes fell in a late session selloff on Tuesday as weak housing starts data overshadowed better-than-expected earnings from Walmart and Home Depot.

MacDailyNews Take: Again, if you know how, it’s best to get a handle on inflation, while you still can.

Inflation is repudiation. — Calvin Coolidge

When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan

22 Comments

    1. You should change your name to “First 2020 Then Prison”.
      Also, repeating this kind of rubbish conspiracy theory is becoming rather predictable and tiresome.

      1. “Rubbish conspiracy theory?”

        It is a documented fact that Mark Zuckerberg used hundreds of millions of dollars to target a handful of counties in a handful of swing states to boost Biden votes. That swung the presidential election by a handful of votes, but the rest of the election was a GOP wave.

        This practice is currently being outlawed in several states that actually care about election integrity – which we did not have in 2020.

        1. If you can’t find facts, make them up!

          Zuckerberg and his wife donated $4.7 million across the entire State of Arizona for nonpartisan election equipment, staff, and voter education. Most of the money was donated to county election boards with a Republican majority. In Maricopa County, the Elections Board that conducted the election and the first two recounts has a 4 out of 5 Republican majority. If the Democrats fixed the election, why did the Democrat then serving as County Recorder lose his own bid for reelection? The Republican who replaced him is calling the current attacks on the integrity of the election “an outrage.”

          What is your actual evidence—real, admissible in court evidence–that the Maricopa County Republican officials are not telling the truth?

          1. There will be no answer since you can’t prove a negative. Just more blatant lies attempting to establish an alternative truth. Smells like panic to me.
            Also, funny how the economic trend was similarly ‘acquired’ by Trumpists with no acknowledgment of Obama’s presidency but inflation is suddenly’only’Biden with no mention of Trumps disastrous handling of Covid which is the root cause of the present inflationary trend. Or the fact that inflation is trending worldwide. North l
            Eye roll fact. My granddaughter’s school board in Savannah is under attack for ‘indoctrination’ and ‘blatant socialism’ because their letter head is blue!
            And I thought comedy was dead in America

            1. My favorite this week is that the Governor of Oklahoma signed a bill into law that will make it all but impossible for public school and university teachers to discuss the deep-rooted reasons why 300 Tulsa residents were killed and 10,000 made homeless in 1921. Instead, the Governor wants to focus public attention on really important issues, like the shortage of Chick-fil-A dipping sauces caused by “Joe Biden’s radical liberal policies.” You really can’t make this stuff up.

  1. Suckerberg poured $500,000,000 (that’s ½ a Billion $ for you math challenged libturds) into just the Arizona/Maricopa County in particular election. What the hell is this asswipe doing swinging elections in other states when he lives in Commifornia? (I live there too and we can’t wait to dump the current governor, Gruesome Newsom, who is enabling the release from prison of 76,000 felons— many of whom have committed violent crimes. The remaining prison population will be in the 20,000 range. They’re freeing some 80% of prisoners! These Socialists are NUTS!!

    1. Perhaps some guy named Suckerberg spent $191 per registered voter in Maricopa County without leaving any evidence behind, but Mark Zuckerberg and his wife only donated $4.7 million across the entire state, going to supplement the underfunded budgets of the mostly-Republican election boards that run the elections and none of it to individual voters. If high voter turnout helps one party more than the other, that is not Zuckerberg’s fault. According to our first Republican President, government by the people, of the people, and for the people is not a bug, but a feature of our constitutional republic.

      I’m interested in why you think that a guy who earned $114 Billion as a successful capitalist is actually a socialist.

      1. Txloser, are you really so stupid that you can’t figure out how a”$114 Billion successful capitalist” could actually a socialist????

        Your stupidity is a stain on your former profession. Sad, very sad.

            1. Help me, then. Show me when and where Mark Zuckerberg offered to turn over all his private assets to government ownership and control. That is what socialism is, not just “anything that a radical rightist does not like.”

  2. Free your face. As the fluids fill your lungs and smother you, you can feel proud of yourself for sticking it to the libs. Unfortunately for poetic justice, that isn’t likely now that most of the people around you are vaccinated.

    1. Eminently malleable pawn.

      You and your ilk lined up to help construct the gas chambers. Whatever the “gubmint” or so-called “experts” say goes, right?

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