U.S. Index Futures Hold Steady After Dow Jones Touches Record 40,000-Point Milestone
17 Maio 2024 - 8:26AM
IH Market News
U.S. index futures remained virtually unchanged in Friday’s
pre-market, consolidating after a previous session filled with
excitement, where the Dow Jones briefly hit the 40,000-point mark
for the first time.
At 6:31 AM, the futures of the Dow Jones (DOWI:DJI) were down 12
points, or 0.03%. S&P 500 futures were up 0.02%, and Nasdaq-100
futures gained 0.07%. The yield on 10-year Treasury notes was at
4.392%.
In the commodities market, West Texas Intermediate crude for
June rose 0.15%, to $79.35 per barrel. Brent crude for July was up
0.17%, near $83.41 per barrel. Iron ore traded on the Dalian
exchange rose 2.18%, to $123.36 per metric ton.
On this Friday’s economic agenda, a notable event is a speech by
Christopher Waller, a representative of the St. Louis Federal
Reserve, scheduled for 10:15 AM. Following him, Mary Daly, from the
San Francisco Fed, is scheduled to speak at 12:15 PM.
European markets were mixed on Friday, with investors analyzing
eurozone inflation data, awaiting possible interest rate cuts by
the European Central Bank (ECB) next month. The eurozone’s annual
Consumer Price Index (CPI) remained steady in April at 2.4%,
according to preliminary estimates released about two weeks
ago.
Asian and Pacific stock markets closed mixed on Friday, with
China and Hong Kong boosted by Chinese government measures to
stimulate the real estate sector. Beijing announced a relaxation of
mortgage rules, reversing early losses in the Chinese market.
However, data revealed an alarming 31.1% drop in new home sales in
China between January and April, with the average price of homes
also declining notably. Although Chinese industrial production
exceeded expectations in April, retail sales were weak.
The Shanghai SE Composite in China recorded a gain of 1.01%,
while Japan’s Nikkei dropped 0.34%. In Hong Kong, the Hang Seng
Index advanced 0.91%, while the Kospi in South Korea and the ASX
200 in Australia fell by 1.03% and 0.85%, respectively.
U.S. stocks started high on Thursday but, after fluctuations,
closed slightly lower. The Dow Jones, which briefly reached 40,000,
retreated 38.62 points, closing at 39,869.38. The S&P 500 fell
by 11.05 points, and the Nasdaq lost 44.07 points. The initial
upward trend reflected optimism about the possibility of interest
rate cuts, following reports indicating less aggressive inflation
than expected.
The Department of Labor’s report yesterday showed a drop in
initial unemployment insurance claims to 222,000, 10,000 fewer than
the previous week. In contrast, import prices rose 0.9% in April,
exceeding economists’ expectations and marking the highest annual
increase since December 2022, with a growth rate of 1.1%.
Scheduled to present quarterly reports before market opening are
RBC Bearings Inc (NYSE:RBC), Bruker
Corporation (NASDAQ:BRKR), Canaan Inc
(NASDAQ:CAN), Huazhu Hotels Group (NASDAQ:HTHT),
among others.
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