Stocks Drop as Hot Inflation Data Damps Hopes for Fed Pivot
• US stock futures fell Tuesday following a hotter-than-expected producer prices index reading on Friday • Traders reacting to signs that the Federal Reserve may not be able to stop raising interest rates soon • Walmart and Home Depot set to report quarterly earnings Tuesday before market open • Nvidia, best performing S&P 500 stock this year, reports earnings Wednesday amid AI investing frenzy • Hotter inflation data has cooled investor hopes for rapid Federal Reserve interest rate cuts