From Nasdaq: 2024-05-13 07:10:53

June S&P 500 E-Mini futures and June Nasdaq 100 E-Mini futures are up this morning ahead of U.S. inflation data and earnings reports. Wall Street closed mixed on Friday with Mettler-Toledo International surging over 17% and McDonald’s climbing over 2%. Akamai Technologies slumped 11% after posting disappointing Q1 results. U.S. consumer sentiment fell to a 6-month low in May, while inflation expectations rose. Fed officials remain cautious about rate cuts, with futures pricing in a 3.5% chance of a rate cut in June. First-quarter earnings season is winding down, with Walmart, Home Depot, Cisco Systems, and others expected to report this week. Economic data to watch includes U.S. consumer inflation, Core CPI, PPI, Retail Sales, and more. Federal Reserve Chairman Jerome Powell is set to participate in a discussion, while other Fed officials will make appearances. Bond yields are down, and Euro Stoxx 50 futures are up as investors await U.S. inflation data. Asian markets closed in the red, with China’s Shanghai Composite down on weak economic data and U.S.-China trade tensions. China reported higher consumer prices and lower producer prices in April, while new bank lending declined. President Biden is set to increase tariffs on Chinese electric vehicles and other industries. Mango Excellent Media surged after the return of its flagship program “Singer.” Chinese economic data for April, including fixed asset investment, unemployment, and retail sales, is due Friday. Japanese government bond yields climbed to multi-year highs, with conditions aligning for the Bank of Japan to normalize policy. Mitsui Fudosan provided a weak profit forecast, while Olympus announced quadrupled operating profits and a share buyback. Honda Motor plans to repurchase shares valued at $1.93 billion.



Read more at Nasdaq: Stocks Set to Open Higher as Investors Await U.S. Inflation Data and Retail Earnings, Fed Speak on Tap