From Nasdaq: 2024-05-28 07:12:19

This morning, June S&P 500 E-Mini futures are up +0.12% and June Nasdaq 100 E-Mini futures are up +0.25%. In Friday’s session, Deckers Outdoor (DECK) soared +14%, Ross Stores (ROST) rose more than +7%, Apple (AAPL) gained over +1%, while Workday (WDAY) tumbled -15% and Intuit (INTU) fell -8%. U.S. economic data showed unexpected rises in durable goods orders, while the University of Michigan consumer sentiment gauge was revised upward. Minneapolis Fed President Neel Kashkari emphasized the need for significant progress on inflation before considering rate cuts. UBS Global Research raised its year-end S&P 500 target to 5,600. In European news, a fresh ECB survey showed declining inflation expectations among eurozone consumers. In corporate updates, Calliditas Therapeutics AB surged +78% after an acquisition offer, while Alibaba Health Information Technology rose over +10% on strong earnings. Asian stock markets ended lower, with Shanghai offering housing incentives and major Chinese banks investing in a semiconductor fund. Japan’s Nikkei 225 saw a slight decline as investors weighed potential monetary policy tightening by the Bank of Japan. Japanese corporate services prices rose sharply in April, driving the 10-year JGB yield to its highest level in nearly a decade. Bank of Japan officials hinted at potential interest rate hikes in the near future. Finance Minister Shunichi Suzuki voiced concerns over the yen’s weakness and pledged action against excessive currency market movements. Midac Holdings reported a double-digit increase in profit for the fiscal year.



Read more at Nasdaq: Stocks Set to Open Higher as Investors Await Key U.S. Inflation Data and Fed Speak