U.S. Futures Dip Ahead of PPI and Unemployment Claims, Oil Prices Slide
11 Abril 2024 - 8:23AM
IH Market News
U.S. index futures are down in Thursday’s pre-market trading,
extending the decline seen the previous day. This movement comes
after the release of a Consumer Price Index (CPI) above
expectations, intensifying speculation that the Federal Reserve
(Fed) may keep interest rates at high levels for an extended
period, while the minutes from the last meeting of the Federal
Reserve revealed that some officials still express concerns about
the progress of inflation towards the established target.
At 6:23 AM, Dow Jones futures (DOWI:DJI) fell 111 points, or
0.29%. S&P 500 futures fell 0.31%, and Nasdaq-100 futures lost
0.25%. The yield on 10-year Treasury notes was at 4.548%.
In the commodities market, West Texas Intermediate crude oil for
May fell 0.60% to $85.70 a barrel. Brent crude for June fell 0.46%,
near $90.06 a barrel. Iron ore traded on the Dalian exchange rose
1.29% to $114.14 per metric ton.
Thursday’s economic schedule brings two relevant indicators to
assess the health of the labor market and inflationary pressures in
the economy. At 8:30 AM, data on weekly unemployment insurance
claims will be released, with LSEG consensus anticipating about
215,000 applications. At the same time, producer prices are
expected to be published, with LSEG projections indicating a
monthly increase of 0.3% and an annual rise of 2.2%.
European markets are down, reflecting the analysis of
international investors on the recent inflation indicators from the
United States. Meanwhile, there is widespread anticipation of the
imminent announcement by the European Central Bank (ECB) on its
monetary policy, keeping market participants on alert.
Asian markets showed mixed performance, reflecting a variety of
economic influences. Concerns about the possibility that interest
rates in the United States will remain stable for an extended
period put pressure on some markets in the region. However, in
China, economic indicators showed a different trend. The country’s
CPI showed a significant slowdown, with the annual rate dropping to
just 0.1% in March, a sharp reduction compared to 0.7% in February
and well below the market expectation of 0.4%. In addition, China’s
PPI recorded a drop of 2.8%, aligning with forecasts.
In terms of market performance, China’s Shanghai SE saw a slight
increase of 0.23%, while Japan’s Nikkei and Hong Kong’s Hang Seng
Index retreated by 0.35% and 0.26%, respectively. South Korea’s
Kospi advanced modestly with a 0.07% gain, while Australia’s ASX
200 fell 0.44%.
U.S. stocks fell sharply on Wednesday, influenced by a 0.4%
increase in consumer prices in March, matching the increase
observed in February. Economists had expected consumer prices to
rise by 0.3%. The report also stated that the annual consumer price
growth rate accelerated to 3.5% in March, up from 3.2% in February.
Economists had anticipated a more modest acceleration to 3.4%. The
Dow Jones, S&P 500, and Nasdaq recorded declines of 1.09%,
0.95%, and 0.84%, respectively. This scenario reinforced concerns
about the continuation of high interest rates by the Federal
Reserve, in a context of persistent inflation and reduced rate cut
expectations for June to just 16.5%, according to the CME Group’s
FedWatch tool.
For the quarterly earnings front, scheduled to present financial
reports are Constellation Brands (NYSE:STZ),
Carmax (NYSE:KMX), Fastenal
(NASDAQ:FAST), Lovesac (NASDAQ:LOVE),
Conn’s Inc (NASDAQ:CONN), Hooker
Furnishings (NASDAQ:HOFT), Northern Technologies
International Corporation (NASDAQ:NTIC), among others.
Fastenal (NASDAQ:FAST)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Fastenal (NASDAQ:FAST)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024