US stock futures faltered on Tuesday as investors sought to gauge the impact of the Johnson & Johnson vaccine and an increase in inflation.
Futures linked to the S&P 500 ranged from gains to losses. The broad market index hovered near its recent record high on Monday. Futures on the tech-heavy Nasdaq-100 climbed 0.5%.
Health authorities have recommended a halt in the use of the Johnson & Johnson vaccine following reports of blood clotting. The Food and Drug Administration and the Centers for Disease Control and Prevention are reviewing data on six reported cases of clotting.
“This means that the rate at which you achieve herd immunity is reduced, and it will take longer for the economy to reopen,” said Sebastien Galy, a macro strategist at Nordea Asset Management.
Fresh data also showed that US consumer prices rose sharply in March as the economic recovery gained momentum, partly due to higher petrol prices. According to the Labor Department, the consumer price index rose by 2.6% in the year ended March.