Dow Jones Futures Reverses On CPI Inflation Data; Airbnb Plunges 14% On Earnings

Dow Jones futures reversed higher Wednesday morning after key inflation data, with the release of the consumer price index. Airbnb (ABNB) plunged after issuing a cautious forecast for the second quarter. X The Labor Department’s consumer price index for April rose 0.4% on the month, matching targets, with an annual increase of 4.9%, slightly cooler than the 5% estimate. Core prices rose in line with estimates, up 0.4% for the month, with an annual increase of 5.5%. Early Wednesday, Airbnb, Li Auto (LI), Occidental Petroleum (OXY) and Upstart (UPST) were on the move after earnings. Airbnb reported solid first-quarter earnings…