U.S. Stock Futures Rise Ahead Of PPI and Retail Sales; Oil Prices Climb
14 Março 2024 - 8:41AM
IH Market News
U.S. index futures are rising in Thursday’s pre-market, with
investors awaiting producer inflation data and retail sales, which
impact U.S. interest rate projections for the year.
At 06:39 AM, Dow Jones futures (DOWI:DJI) rose 108 points, or
0.27%. S&P 500 futures advanced 0.32%, and Nasdaq-100 futures
gained 0.46%. The yield on 10-year Treasury notes was at
4.194%.
In the commodities market, West Texas Intermediate crude for
April rose 0.84% to $80.39 per barrel. Brent crude for May
increased by 0.70% to around $84.62 per barrel. Iron ore traded on
the Dalian exchange fell 2.62% to $110.99 per metric ton. Iron ore
for April on the Singapore exchange dropped 2.37% to the lowest
level since August 17, at $103.05 a ton.
At 08:30 AM, Thursday’s economic agenda is set to be busy with
the release of the February producer price index, a key indicator
for assessing inflationary pressure at the production level, and
the last major economic data to be released before the Federal
Reserve’s monetary policy meeting next week. At the same time,
unemployment insurance claims for the week ending last Saturday
will be released, providing insights into the health of the labor
market. Also at the same time, the Commerce Department will present
February’s retail sales, with LSEG consensus forecasting a 0.3%
monthly increase and a 1.1% annual increase.
Asia-Pacific stock markets ended Thursday without a clear trend
and with modest movements, echoing the behavior observed on Wall
Street the day before. The session was characterized by the absence
of new stimuli that could guide investors, resulting in cautious
adjustments by them. Japan’s Nikkei index managed a modest recovery
of 0.29%, reaching 38,807.38 points, after days of negative
performance influenced by speculation about a possible change in
the Bank of Japan (BoJ)’s negative interest rate policy, especially
with the approach of the monetary policy meeting. Meanwhile, in
China, markets recorded light to moderate losses, with the Shanghai
Composite and Shenzhen Composite falling respectively 0.18% and
0.59%. The Hang Seng in Hong Kong and the ASX 200 in Australia also
had a challenging day, unlike the Kospi in South Korea, which stood
out with a gain of 0.94%.
European markets are predominantly positive, continuing the
recent upward trend and reaching new unprecedented levels during
the session, especially in the stock markets of Frankfurt and
Paris. Investors remain in a state of anticipation ahead of the
imminent release of crucial economic indicators from the United
States. Notably, Germany’s DAX index climbed to an unprecedented
18,027.56 points, while France’s CAC 40 also broke barriers,
setting a new intraday high by reaching 8,209.98 points.
After recovering on Tuesday, stocks showed mixed performance on
Wednesday. The Dow rose for the third consecutive day, while the
S&P 500 and Nasdaq fell 0.19% and 0.54%, respectively,
influenced by weakness in the technology sector. The lack of
significant economic data kept trading activity moderate.
On the earnings front, Dollar General
(NYSE:DG), Dick’s Sporting Goods (NYSE:DKS),
Futu (NASDAQ:FUTU), Canadian
Solar (NASDAQ:CSIQ), GoHealth
(NASDAQ:GOCO), Solo Brands (NYSE:DTC), among
others, are scheduled to present financial reports before the
market opens.
After the close, the numbers from Adobe
(NASDAQ:ADBE), Blink Charging (NASDAQ:BLNK),
Ulta Beauty (NASDAQ:ULTA),
PagerDuty (NYSE:PD), Smartsheet
(NYSE:SMAR), Rigetti Computing (NASDAQ:RGTI),
Kopin Corporation (NASDAQ:KOPN), Wheaton
Precious Metals (NYSE:WPM), Phreesia
(NYSE:PHR), Vaxart (NASDAQ:VXRT), and more will be
awaited.
Rigetti Computing (NASDAQ:RGTI)
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