U.S. stock index futures fell on Thursday ahead of weekly jobless claims data, as uncertainty around Federal Reserve’s monetary tapering timeline, inflation, and other signs of slowing economic growth were a drag on investor sentiment.
Heavyweight technology stocks including Apple Inc, Microsoft Corp, Google parent Alphabet Inc, Netflix Inc and Amazon.com Inc all fell about 0.3% each in premarket trading.
Although, Fed Chair Jerome Powell has been largely dovish in his commentary on tapering timelines, risks from rising inflation despite a slowing economy has raised fears among investors that the central bank might have to rein in its massive stimulus sooner than expected.
Market sentiment has largely been subdued this week after recent jobs report showed a slowdown in U.S. hiring and on worries over a slowing economy… Initial jobless claims data will likely show fewer Americans filed for unemployment benefits, with expectations of 335,000 claims compared to 340,000 last week.
MacDailyNews Take: Obviously, a healthy U.S. economy is essential to Apple, as America is Apple’s largest market, by far.
Again, it’s best to get a handle on inflation, if you know how, 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