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US stock futures weaken further after higher than forecast US CPI inflation

US stock futures weaken further after higher than forecast US CPI inflation

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8.55am: Inflation continues to rise US stock futures remained weak after CPI inflation hit a three-decade high of 6.2% in October, above forecast, as supply shortages and strong consumer demand continued to push up prices. Consumer spending increased at an annual rate of 1.6% in the third quarter, a sharp slowdown from a 12% increase in the prior quarter, however, much of that deceleration was due to the scarcity of new cars and other durable goods.

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