US stock futures traded mixed ahead of the latest inflation-related report.
The large futures indices suggest a small gain on the Dow when the opening bell rings.
GET FOX BUSINESS ON SPEED by clicking here
Investors will keep an eye on US inflation data on Thursday. The focus is on how it can affect ultra-low interest rates and other market support policies.
The Bureau of Labor Statistics is expected to say that the consumer price index rose 0.4% month-over-month in May, half of April̵
On a year-on-year basis, prices should jump 4.7%. It would be the fastest annual growth in almost 13 years and up half a percentage point from April 4.2% increase. If you calculate volatile food and energy costs, the consumer price index probably rose by 0.4% last month and is expected to rise by 3.4% year-on-year, the largest annual gain in 28 years.
The CPI comes shortly before a meeting next week in the Federal Reserve’s Open Market Committee, which sets policy rates and other measures.
TECHNOLOGY Fills the gap as a job MAKE GDP
At the same time on Thursday, the Labor Department is out with its inventory of new unemployment benefit claims for last week. Expectations are at 370,000, down from a coronavirus pandemic low of 385,000 claims the previous week. Ongoing claims tracking the total number of unemployed workers claiming benefits are expected to fall by 169,000 to 3,602 million, tying the pandemic low in mid-May.
In Europe, London’s FTSE added 0.4%, Germany’s DAX rose 0.2% and France’s CAC fell 0.1%.
In Asia, Tokyo’s Nikkei 225 rose 0.3%, in Hang Kong, Hang Seng was less than 0.1%, and China’s Shanghai Composite Index rose 0.5%.
|Me: DJI||Average of DOW JONES||34447.14||-152.68||-0.44%|
|I: COMP||NASDAQ COMPOSITE INDEX||13911,750324||-13.16||-0.09%|
On Wednesday, a candle in banks and industrial companies pushed shares on Wall Street against modest losses after an early gain disappeared in the last half-hour trade. Shares that were fought by hordes of online investors were the “meme” stocks, as they have become known, again volatile.
The S&P 500 slipped 0.2% to 4,219.55, erasing its small gain from a day earlier. The benchmark index’s modest move this week is on track for its first weekly loss in three weeks. The Dow Jones Industrial Average averaged 0.4% at 34,447.14, while the Nasdaq held up just 0.1% at 13,911.75.
GAMESTOP DEVELOPES NEW CEO, CFO LEADING TRANSFORMATION FOR E-COMMERCE
The original “meme” stock, GameStop, said after the closing bell on Wednesday that it has brought in a few Amazon veterans as its new CEO and CFO to help with the highly anticipated digital turnaround. The company also reported a smaller quarterly loss than a year ago, when revenue increased. Its shares fell 3% in trading after closing time.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
In other trades, US crude rose 9 cents to $ 70.04 a share. Barrel of electronic trading on the New York Mercantile Exchange. It lost 9 cents to $ 69.96 per share. Barrel Wednesday.
Brent crude, the international standard, added 16 cents to $ 72.38 per barrel. Barrel.
The Associated Press contributed to this report.