Futures Are Moving Lower & Yields Are Climbing After March CPI Report

U.S. stock futures are lower. Futures are moving lower and yields are climbing after the March Consumer Price Index (CPI) report showed inflation was stronger than expected. Headline CPI rose 0.4% for the month, marking a 12 month rate of 3.5%. Economist estimates were slightly lower at 0.3% and 3.4% respectively. Core CPI, which excludes food and energy items, rose 0.4% on a monthly basis and 3.8% on a yearly basis versus respective expectations for 0.3% and 3.7%. More inflation data is on the economic calendar as the March Producer Price Index (PPI) data will be released tomorrow before the market open. The minutes from the March 20^th FOMC meeting will be released today at 2 PM. In international markets, Asian indexes closed mostly lower after Japanese corporate inflation rose. European markets have reversed course and are lower after the disappointing U.S. CPI data. The ECB is expected to leave interest rates unchanged tomorrow. Crude prices are higher and gold prices are lower. The U.S. Dollar is strengthening post-CPI.

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