From Nasdaq: 2024-05-16 07:08:56

Investors are optimistic as S&P 500 and Nasdaq 100 futures are up this morning. Dell Technologies and chip stocks like AMD and Broadcom saw gains in yesterday’s session. On the economic front, the U.S. reported lower than expected consumer prices and retail sales figures for April. Minneapolis Fed President Kashkari advocated for keeping interest rates steady for now.

In today’s session, notable companies like Walmart and Applied Materials are set to release earnings reports. Economic data including U.S. Philly Fed manufacturing index, U.S. Industrial Production, Building Permits, and Housing Starts are on the radar. U.S. Export and Import Price Indexes, as well as Initial Jobless Claims data, will also be reported.

In Europe, the Euro Stoxx 50 futures are down, with disappointing earnings reports affecting stocks. In Italy, annual inflation rate cooled more than expected. In Asia, Chinese and Japanese markets closed higher, with China’s Shanghai Composite up on property market support measures and Japan’s Nikkei up on easing U.S. inflation concerns and domestic growth data.

Japan’s GDP contracted in Q1, posing challenges for the Bank of Japan, while the yen strengthened against the dollar. Nippon Paint Holdings saw gains after reporting increased profit, while Mitsubishi UFJ Financial Group forecasted marginal profit growth. Japan’s March Industrial Production exceeded expectations. Japanese GDP and Industrial Production data came in weaker than expected.



Read more at Nasdaq: Stocks Rise Before the Open as Investors Await U.S. Economic Data and Fed Speak, Walmart Earnings on Tap