U.S. stock futures were slightly lower after ending higher yesterday. The focus today will be on several economic reports.
U.S. producer prices rose more slowly than expected in October, despite a rebound in food and energy costs. The Labor Department reported an increase of 0.3% following a 0.6% drop in September. Analysts expected producer prices to increase by 0.5%. Core producer prices, which exclude food and energy costs, unexpectedly dropped 0.6% last month after slipping 0.1% in September. The core index had been forecast to rise 0.1% in October.
Shortly before the open, the Federal Reserve will release October reports for capacity utilization and industrial production. Industrial production is expected to have risen 0.4% in October, compared to an increase of 0.7% the prior month. And at 1:00 pm, the National Association of Home Builders will be out with its monthly sentiment index, with consensus forecasts calling for an increase.
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