ASX to drop, Wall St mostly recovers from CPI stumble

News Snapshot:

Pinned post – 7.33AM Australian shares are poised to fall, after the latest US consumer price data somewhat tempered hopes that the Federal Reserve will pivot to rate cuts in March. ASX futures are down 35 points or 0.5 per cent to 7453 near 6.45am AEDT, but have pared a potential sharper drop as US indices have begun to recover late in trading. The US consumer price indicator increased 3.4 per cent in the year through December, the most in three months, on increases in shelter, electricity, motor-vehicle insurance and used-car prices. Shares whipsawed in New York, opening higher, then...