8 AM Market Flash: Greggs confirms another two price rises as High Street chain warns of Iran war effect | ‘One of Iran’s options...’: Tehr

U.S. stock index futures are sliding as hotter-than-expected April inflation data raises fresh doubts about the Federal Reserve's rate path. The Consumer Price Index rose 3.8 percent yearly and 0.6 percent monthly with core CPI at 2.8 percent annually... that has traders pricing in fewer rate cuts and sent major indices including the Dow, Nasdaq and S and P 500 lower in pre-market action. SPX is currently trading at 7412.84 flat on the day while the VIX sits at 18.68 down about a third of a percent. Bitcoin is trading at 80,746 down half a percent over the past 24 hours and remains within striking distance of the 80 K level... any sustained risk-off tone here could keep volatility elevated for options traders. In the UK market Greggs has confirmed two more price hikes and its boss is warning that a prolonged Middle East conflict including tensions around Iran could drive higher costs on everything from ingredients to energy. I am your VixShield news reporter. Back to you, Russell.