Here’s what we’re watching ahead of Friday’s opening bell.
- U.S. stock futures edged higher ahead of fresh data that are expected to show a jump in inflation in April.
- Futures tied to the S&P 500 added 0.3%, indicating that the broad market index could end the week with gains. Tech heavy Nasdaq-100 futures edged up 0.2%. Read our full market wrap here.
What’s Coming Up
- U.S. personal income for April, due at 8:30 a.m. ET, is expected to fall 14% and consumer spending is expected to rise 0.5% from a month earlier. The personal consumption expenditure price index excluding food and energy for April, due at 8:30 a.m., is expected to increase 0.6% from a month earlier and 2.9% from a year earlier.
- The University of Michigan consumer sentiment index for May, due at 10 a.m., is expected to tick up to 83 from a preliminary reading of 82.8.
Market Movers to Watch
reported first-quarter results and a second-quarter outlook that beat analysts’ forecasts. The cloud-software company’s shares added 5% premarket.
- Meme stocks are on the rise again, with
surging more than 18% ahead of the bell.
was up a more muted 4% and
‘s U.S.-traded shares gained 4.3%.
: A pandemic-fueled run on computers helped both companies deliver strong financial results for the latest quarter despite a semiconductor shortage that is denting some industries. But their shares have taken different courses premarket; HP dropped 5.3% while Dell was flat.
reported $45.28 billion in revenue for its quarter that ended May 9, up almost 22% from the same period last year—but its shares nudged down 0.6% ahead of the bell.
shares slipped 1.3% premarket after the clothing retailer lifted its sales outlook and said the effect of the pandemic is largely behind it in the U.S., although effects may linger in international markets.
swung to a profit during its latest quarter as sales picked up with the economy in the U.S. rebounding. The beauty retailer’s shares climbed 3.6% premarket.
- The British pound on Thursday hit a new 52-week high against the U.S. dollar, with one pound trading for $1.4203.
- This year has seen cryptocurrency ethereum’s value soar nearly fourfold, even after a sharp correction over the past few weeks.
- On this day in 1946, with the stock market still euphoric over peace, the Dow Jones Industrial Average hit its immediate post-World War II high of 212.50, a level it would not surpass again until April 12, 1950—after nearly four years of chronic doldrums.
Chart of the Day
- Resilient Indian markets show investors reckon India’s long-term growth potential is intact despite the coronavirus crisis.
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AMC, Salesforce, HP, Ulta Beauty: What to Watch When the Stock Market Opens Today Source link AMC, Salesforce, HP, Ulta Beauty: What to Watch When the Stock Market Opens Today