US futures are lower this morning following inflation data. Markets are reacting negatively to data that showed CPI coming in at a 0.4% gain compared to estimates of a 0.3% gain. In other economic data, weekly jobless claims came in at 284,000 compared to estimates of 300,000. Oil is continuing its move higher with crude oil trading above $50 a barrel as global oil demand estimates rose. Asian markets closed lower led by the Shanghai index after weaker than expected economic data out of China. Markets in Europe are trading lower led by the FTSE.