S&P futures vs fair value: -48.40. Nasdaq futures vs fair value: -182.00.
The futures are setting up the major indices for a lower open after hotter-than-expected CPI data. The S&P 500 futures are down 48 points and are trading 1.2% below fair value. The Nasdaq 100 futures are down 182 points and are trading 1.5% below fair value. The Dow Jones Industrial Average futures are down 296 points and are trading 0.9% below fair value.
A few individuals making large downside moves in premarket action are Unity Software (U 33.85, -5.91, -14.9%) are Apple (AAPL 143.59, -2.27, -1.6%). The former is down after confirming a merger agreement with ironSource. The latter is down after the NYT reported Apple ended a consulting deal with former design chief Jony Ive.