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AMC, Salesforce, HP, Ulta Beauty: What to Watch When the Stock Market Opens Today

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
  • Salesforce

    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

    AMC Entertainment

    surging more than 18% ahead of the bell.

    GameStop

    was up a more muted 4% and

    BlackBerry

    ‘s U.S.-traded shares gained 4.3%.

  • Dell,

    HP

    : 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.

HP expects personal computers to remain a hot item into next year.



Photo:

Richard B. Levine/Levine Roberts/Zuma Press

  • Costco

    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.

  • Gap

    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.

  • Ulta Beauty

    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.

Market Facts
  • 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.
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