Investors are on edge as the U.S. Federal Reserve prepares to release its Core Personal Consumption Expenditure Price Index data, a closely watched metric of inflation, this Friday. Markets have been seesawing over the possibility of the Fed raising interest rates after their last meeting minutes described an appetite to move more aggressively than previously anticipated. Recent data has shown the U.S. economy is continuing to grow, but at a lower rate than expected, putting pressure on stocks, particularly growth stocks.

The Core PCE Price Index reading is expected to rise 0.4%, a tick higher than the prior December reading and 4.3% for the year through January. Along with the Core PCE, University of Michigan's Consumer Sentiment data is due out tomorrow, and is expected to remain unchanged at 66.4. Additionally, struggling theater chain Cinemark Holdings Inc (NYSE: CNK ) is expected to report