Stock Futures Drop Ahead of Fed’s Favored Inflation Gauge


U.S. stock futures fell as investors rebalanced portfolios ahead of the end of a grueling first half and awaited a gauge of inflation that Federal Reserve officials consider their preferred measure of rising prices.

Futures tied to the S&P 500 dropped 1.4%, a day after indexes finished little changed. Dow Jones Industrial Average futures fell 1.1% while technology-heavy Nasdaq-100 futures lost 1.7%.

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