US Stock Futures Turn Negative

US stock index futures turned negative on Friday as a hotter-than-expected reading for inflation threw some cold water into expectations that the Federal Reserve will soon slow its aggressive tightening campaign.

The producer price index, which gauges the prices received for final demand products, rose 0.4% over the previous month in November, while analysts expected a modest 0.2% gain.

Capping some of the downside momenta were expectations of a recovery in China's economy, with the world's largest economy relaxing many of its stringent COVID-19 controls and signaling more support for the property sector.

On the corporate side, DocuSign jumped over 10% in premarket trading on better-than-expected quarterly results, while Lululemon tumbled 7% after issuing a weak fourth-quarter guidance.