U.S. Stock Futures Are Lower While Cease Fire Talks Are Still Ongoing in Europe

U.S. stock futures are lower.   CPI increased annually 7.9% in February versus the consensus of 7.8%,  somewhat in line but reached a four-decade high and does not reflect the full impact from the war between Russia/Ukraine.  On a month-over-month basis, the CPI gain was 0.8% , compared to 0.7% estimate. The 10y & 30y rates are basically unchanged since the opening level and the futures are still negative.  The European Central Banks surprised the markets with a plan to wind down the stimulus earlier than planned but is prepared to restart the program if necessary;  the ECB did not change any benchmark rates.  Cease fire talks are still on going in Europe but with limited expectations.  Oil prices are higher and European markets are trading down in mid-day trading.  Asian markets closed higher.