US stock futures wobbled on Tuesday as investors sought to gauge the impact of a halt in the introduction of Johnson & Johnson vaccines and a rise in inflation.
Futures pegged to the S&P 500 staggered between gains and losses. The broad market index floated near its recent record close high on Monday. Futures on the tech-heavy Nasdaq-100 climbed 0.5%.
Health authorities recommended a break 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.
“It means slowing down the rate at which you achieve herd immunity and it will take longer for the economy to reopen,” said Sebastien Galy, macro strategist at Nordea Asset Management.
New data also showed that consumer prices in the US rose sharply in March as the economic recovery gained momentum, in part as a result of higher gasoline prices. The Department of Labor reported that the consumer price index rose 2.6% in the year ending March.