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US stock index futures mixed

April 12, 2023 00:00:00

US stock index futures were mixed on Tuesday as investors refrained from making aggressive bets ahead of inflation data that could determine the Federal Reserve's next policy moves, while caution also prevailed ahead of the earnings season, reports Reuters.

Hopes that the Fed will soon end its aggressive monetary policy tightening have helped the benchmark S&P 500 stabilize in April after the collapse of two US mid-sized lenders sparked a selloff last month.

A strong labor market report on Friday, however, lifted bets that the US central bank will increase rates by 25 basis points in May, with money market traders pricing in a 68 per cent chance of such a move, according to CME Group's Fedwatch tool.

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