Here’s what we’re watching as Thursday’s trading gets underway.
- U.S. stock futures wobbled ahead of data on consumer prices that will offer fresh insights about the pace of inflation as the economy emerges from the pandemic.
- Futures for the S&P 500 were up less than 0.1% and Dow Jones Industrial Average futures added 0.2%. Contracts for the technology-focused Nasdaq-100 slipped 0.3%. Read our full markets wrap here.
- Bitcoin is trading around $37,200, a 2.2% rise from Wednesday’s level at 5 p.m. ET. The cryptocurrency is still down over 40% from its mid-April high.
What’s Coming Up
- Earnings are due before the open from
will report after the close.
- The U.S. consumer price index for May, a highly-anticipated data release on inflation, will go out at 8:30 a.m.
- Weekly jobless claims, a proxy for layoffs, are also going out at 8:30. They have been on a downward trajectory over the past five weeks and economists are projecting a new pandemic low as the economy continues to recover.
Market Movers to Watch
is down 7.5% in premarket trading. The videogame retailer said it is considering a new equity offering, and disclosed that the SEC has requested documents and information for its investigation into the recent trading frenzy. It also reported stronger-than-expected sales in the most recent quarter.
rose over 7%, looking set to partially reverse some of Wednesday’s losses. The stock was up 88% for the week at yesterday’s close.
took another leg down, declining 5.2%. The cinema chain fell over 10% on Wednesday.
another stock frequently discussed on Reddit forums, was down 2.4%.
shares continued their wild ride, jumping 7.2% ahead of the bell. On Wednesday they closed down 8.9% in heavy-volume trading, after having been up more than 25% early in the session.
slipped 1.8% premarket, pulling back after rallying more than 40% this week after the FDA approved its Alzheimer’s drug, a long-awaited breakthrough.
- Derivatives exchange
retreated 2.6% in trading ahead of the opening bell, extending a three-day slide.
- Issuance of green bonds hit a record $270 billion last year and is on pace to exceed that amount in 2021, according to data from the Climate Bonds Initiative.
- The yield on the benchmark 10-year Treasury note closed below 1.5%, its lowest level in more than three months, dragged down by tepid economic data and high demand from investors both in the U.S. and elsewhere.
Chart of the Day
- Bankers estimate that initial public offerings could raise some $40 billion in the coming months, the most ever during a summer stretch.
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