Stock futures trade cautiously ahead of inflation data

FAN Editor

U.S. equity futures are trading mixed ahead of the final trading day of the week.

The major futures indexes suggest a gain of 0.2% for the Dow and a decline on the Nasdaq of 0.1%.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Traders will be monitoring inflation on Friday when the Labor Department’s Bureau of Labor Statistics reports producer prices for March. The headline Producer Price Index is expected to increase 0.5% month-over-month, according to Refinitiv forecasts, matching the gain in February.

The U.S. announced new sanctions against seven Chinese supercomputer makers.

US SANCTIONS CHINESE COMPUTER MAKERS IN WIDENING TECH FIGHT

China reported a stronger-than-expected rise in prices that could prompt authorities to act to cool inflation.

Japan’s Nikkei 225 rose 0.2%, the Hang Seng in Hong Kong fell 1.3% and China’s Shanghai Composite index lost 0.9%.

On Thursday, stocks closed moderately higher on Wall Street, lifted by gains in large technology companies that benefit from lower bond yields. But an increase in jobless claims dented some of the buying enthusiasm.

744,000 AMERICANS FILE FOR FIRST-TIME JOBLESS BENEFITS

The S&P 500 index gained 0.4% to 4,097.17, another record high following new marks set on Monday and Wednesday. The Dow Jones Industrial Average gained 0.2%, to 33,503.57. The tech-heavy Nasdaq composite climbed 1% to 13,829.31.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33503.57 +57.31 +0.17%
SP500 S&P 500 4097.17 +17.22 +0.42%

Stocks have benefited this week as bond yields, which had been steadily ticking higher, retreated from highs hit earlier in the month.

Investors are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution has been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

In remarks Thursday to the International Monetary Fund, Federal Reserve Chair Jerome Powell said a number of factors were putting the nation “on track to allow a full reopening of the economy fairly soon.”

CLICK HERE TO READ MORE ON FOX BUSINESS

In other trading, U.S. benchmark crude oil gave up 21 cent to $59.39 per barrel in electronic trading on the New York Mercantile Exchange. It lost 17 cents to $59.60 on Thursday. Brent crude, the international standard, fell 33 cents to $62.87.

The Associated Press contributed this this report.

Free America Network Articles

Leave a Reply

Next Post

4 charts show how the U.S. is on track for a faster economic recovery than Europe

LONDON — The United States is recovering faster from the economic shock caused by the coronavirus pandemic than countries in the European Union. The sheer amount of fiscal stimulus in the United States has been a critical driver in ensuring that the largest economy in the world resurfaces quickly. But […]