US Futures Remain Steady Amid Wall Street Caution Ahead of April PPI Report
14 Maio 2024 - 8:18AM
IH Market News
U.S. index futures are almost unchanged in pre-market trading
this Tuesday, reflecting Wall Street’s caution ahead of key
inflation reports.
At 6:37 AM, the Dow Jones (DOWI:DJI) futures rose 4 points, or
+0.01%. S&P 500 futures advanced 0.01%, and Nasdaq-100 futures
dropped 0.01%. The yield on 10-year Treasury notes was at
4.477%.
In the commodities market, West Texas Intermediate crude oil for
July fell 0.02%, to $83.36 per barrel. Brent crude oil for July was
steady, near $83.36 per barrel. Iron ore traded on the Dalian
exchange dropped 0.75%, to $119.60 per metric ton.
On Tuesday’s economic agenda, the April Producer Price Index
will be released at 8:30 by the Labor Department. The LSEG
consensus projects a monthly rise of 0.3% and an annual base
increase of 2.2%.
European markets are mixed, with investors cautious ahead of
U.S. inflation data. Unemployment in the UK rose to 4.3%, while
wages, excluding bonuses, increased by 6.0%. Among individual
stocks, Delivery Hero (TG:DHER) jumped 22.1% after
selling Foodpanda to Uber (NYSE:UBER), while
Anglo American (LSE:AAL) fell 2.3% after
announcing a strategic review.
Stock markets in Asia and the Pacific closed with no clear
direction and modest variations this Tuesday, mirroring Wall
Street’s behavior, as investors await new U.S. inflation data. The
Shanghai SE Index (China) saw a slight decline of 0.07%, while the
Nikkei (Japan) recorded a gain of 0.46%. The Hang Seng Index (Hong
Kong) fell 0.22%, and the Kospi (South Korea) rose 0.11%. The ASX
200 (Australia) ended the day down 0.30%.
After a strong upward movement last week, U.S. stocks performed
mixed on Monday. The Dow Jones fell 0.21%, closing at 39,431.51
points. The S&P 500 retreated 0.02%, while the Nasdaq climbed
0.29%. The initial strength came from optimism about interest rate
cuts, but diminished after a New York Fed survey showed an increase
in short- and long-term inflation expectations. One-year inflation
expectations rose to 3.3%. The five-year outlook increased to 2.8%.
Among individual stocks, GameStop (NYSE:GME)
soared after “Roaring Kitty” posted on X for the first time in
three years. Squarespace (NYSE:SQSP) also rose
significantly after announcing a deal to go private in a cash
transaction valued at about $6.9 billion.
Scheduled to report quarterly results before the market opens
are Alibaba Group (NYSE:BABA),
Sony (NYSE:SONY), The Home Depot
(NYSE:HD), Sea (NYSE:SE), Ocugen
(NASDAQ:OCGN), Intuitive Machines (NASDAQ:LUNR),
Miniso Group Holding (NYSE:MNSO), On
Holding AG (NYSE:ONON), OrganiGram
(NASDAQ:OGI), Bakkt (NYSE:BKKT), among others.
After the close, earnings from Nu Holdings
(NYSE:NU), Nextracker (NASDAQ:NXT), Ontrak
Health (NASDAQ:OTRK), Dragonfly Energy
Holding (NASDAQ:DFLI), DHT Holdings
(NYSE:DHT), Rumble (NASDAQ:RUM),
Canoo (NASDAQ:GOEV), Arcutis
Biotherapeutics (NASDAQ:ARQT), SilverCrest
Metals (AMEX:SILV), Prestige Consumer
Healthcare (NYSE:PBH), and more will be awaited.
Home Depot (NYSE:HD)
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