Stocks Set to Open Lower as Hot Inflation Data Stokes Fed Rate Hike Fears
• US stocks set to open sharply lower after hotter than expected inflation data showing consumer prices rose 0.4% month-over-month in March • CPI acceleration fuels bets that Fed may not cut rates as much as expected through rest of 2022 • Delta earnings top forecasts, stock up 5% premarket; travel demand holding up well so far • Nvidia stock weakness persisting, now 6% lower in April and slipping below key technical levels • S&P 500 now on longest stretch without a record high since January as index falls for 7 straight days