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US Futures Slip as Inflation, Energy Weigh on Growth

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Traders work at the New York Stock Exchange (© Xinhua/Wang Ying) (Photo by Xinhua/Sipa USA)

NEW YORK (AP) — Wall Street futures slipped Tuesday ahead of the reopening of U.S. markets from the Independence Day holiday, following declines in Europe and an upbeat session in Asia.

Futures for the Dow Jones Industrials fell 0.6%, as did futures for the S&P 500. The war in Ukraine and its impact on energy supplies are casting a shadow over the global economic outlook at a time when central banks are raising interest rates to slow inflation.

While most pandemic restrictions are gradually being lifted across Asia, a resurgence in COVID-19 infections has taken hold in Europe and the U.S.. Oil prices fell.

“Copyright 2021 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.”

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