Traders
work
the
floor
of
the
New
York
Stock
Exchange.
NYSE
Stock
futures
are
near
flat
Thursday
night
as
investors
analyzed
the
fresh
batch
of
corporate
earnings
and
attempted
to
look
beyond
the
latest
inflation
reading.
Futures
tied
to
the
Dow
Jones
Industrial
Average
lost
10
points,
trading
near
the
flatline.
S&P
500
futures
and
Nasdaq
100
futures
were
also
both
little
changed.
In
after-hours
action,
software
provider
Adobe
dropped
nearly
11%
on
weak
sales
guidance.
Beauty
stock
Ulta
slid
more
than
6%
after
its
full-year
earnings
forecast
largely
underwhelmed
analysts.
Those
moves
follow
a
losing
day
on
Wall
Street.
The
Dow
slipped
more
than
100
points,
or
about
0.4%,
to
snap
a
three-day
winning
streak.
The
S&P
500
and
Nasdaq
each
fell
around
0.3%.
Thursday’s
retreat
came
after
February’s
producer
price
index,
a
gauge
of
wholesaler
inflation, advanced more
than
economists
anticipated.
Bond
yields
climbed
in
the
session
—
with
the
benchmark
10-year
Treasury‘s
reaching
4.29%
—
as
investors
wondered
if
the
recent
economic
data
was
too
strong
for
the
Federal
Reserve
to
loosen
monetary
policy.
To
be
sure,
fed
funds
futures
are
pricing
in
a
99%
likelihood
of
the
central
bank
keeping
interest
rates
unchanged
at
its
policy
meeting
next
week,
according
to
the
CME
FedWatch
Tool.
But
recent
economic
releases
could
throw
into
question
whether
the
Fed
feels
inflation
has
cooled
enough
to
begin
lowering
levels
later
this
year,
said
Mark
Luschini,
chief
investment
strategist
at
Janney
Montgomery
Scott.
“The
path
toward
a
2%
target
rate
has,
at
least
of
recent,
been
anything
but
linear,”
Luschini
said.
“I
think
that’s
enough
just
to
…
curb
the
enthusiasm,
if
you
will,
of
market
participants.”
Luschini
cautioned
that
a
slide
like
Thursday’s
can
also
be
considered
normal
after
recent
gains.
Despite
the
leg
down,
the
Dow
and
S&P
500
are
still
tracking
to
end
the
week
up
around
0.5%,
while
the
Nasdaq
is
on
pace
to
add
0.3%.
All
three
are
also
higher
on
the
year.
Investors
will
watch
Friday
morning
for
economic
data
on
topics
such
as
consumer
sentiment,
import
prices
and
industrial
production.
