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July 15 (Reuters) - U.S. stock index futures edged higher as investors braced for a fresh wave of corporate earnings as well as producer inflation data due later Wednesday, while PayPal shares surged
Stocks looked set to rise again on Wednesday, building on gains from the previous session that were powered by a solid start to the second-quarter earnings season and cooler-than-expected inflation data. Nasdaq 100 futures added 0.4%. Dow Jones Industrial Average futures rose 81 points, or 0.2%.
The focus turns to Wednesday's release of the Producer Price Index after the latest Consumer Price Index data showed the largest single-month decline in inflation since April 2020.
Investing.com - U.S. stock futures edged higher on Wednesday after a softer-than-expected inflation reading eased fears that the Federal Reserve may soon raise interest rates.
There's more to U.S. inflation than just energy prices.
According to data from the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) for June rose 3.5% year-on-year, below market expectations.
SINGAPORE, July 15 (Reuters) - Asian markets were higher on Wednesday after a surprise slowdown in U.S. inflation scaled back market expectations for interest rate hikes, while oil took a breather as
It was a jam-packed day for the markets: earnings season started strong, oil futures fluctuated, Federal Reserve Chairman Kevin Warsh testified in front of lawmakers, and the latest June inflation report delivered a cooler-than-expected reading that should make policymakers hold off on raising interest rates—for now. The Dow closed just above the flatline at 0.02%. The Nasdaq Composite was up 0.9% and the S&P 500 finished the day up 0.4%.
<body><p>STORY: U.S. stocks closed mostly higher on Tuesday, with the Dow ending little changed, the S&P 500 adding almost four-tenths of a percent and the Nasdaq gaining nine-tenths of a percent.</p><p>Second-quarter earnings season began with five big U.S. banks reporting solid results, buoyed by trading strength and dealmaking.</p><p>Shares of Goldman Sachs surged 9%, while JPMorgan Chase and Bank of America also closed higher.</p><p>Robert Conzo, CEO and managing director of The Wealth Alliance, said he expects corporate earnings this quarter to remain strong which should help markets advance.</p><p>"When you look at the earnings estimates for the second quarter, it's at 23.6 [percent], north of 20. That's coming off of a first quarter earnings of about 27 [percent]. Again, a huge number north of 20. The last time that happened was in the first and second quarter of 2021 when we were coming off of Covid. So these are big earnings projections going forward. The market was looking for that because all eyes on earnings in the face of sticky inflation.”</p><p>But inflation was a little less "sticky" in June, as Tuesday's release of the Labor Department's Consumer Price Index showed the annual inflation rate dropped to 3.5%, due largely to receding oil prices that have since rebounded.</p><p>Other stocks on the move Tuesday included U.S.- listed shares of SK Hynix, which soared more than 27% after tumbling on Monday following a strong Friday debut.</p><p>And shares of IBM plummeted more than 25% after the tech company warned second-quarter revenue would fall below estimates.</p></body>
(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.
Inflation cooled faster than expected in June, but Fed Chair Kevin Warsh isn't ready to declare victory.
William Blair says Casey’s, Costco, Cava, and other consumer companies are well positioned to weather inflation and uneven consumer spending.
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit
By Sinéad Carew and Nell Mackenzie NEW YORK/LONDON July 14 (Reuters) - Shares were up modestly on Tuesday after softer than expected U.S. inflation data and strong second-quarter earnings from major
Fresh economic data showing consumer prices fell in June sent stocks mostly higher at Tuesday's opening bell. The tech-heavy Nasdaq was up 0.4%, while the S&P 500 gained 0.2%. The Dow was up 0.2%, or 83 points.
June CPI came in at 3.5% annually, below the 3.8% economists expected, but rising oil prices and an IBM warning capped gains
CPI inflation was far below views, lowering Fed rate hike odds. Fed Chairman Kevin Warsh said he'll "get monetary policy right."
Bond yields dropped sharply and Nasdaq futures climbed after a cooler-than-expected inflation report this morning. Futures for the S&P 500 and Nasdaq-100 index rose, while those tied to the Dow industrials edged lower.
Wall Street looked set for a mixed open as investors digested a 23% plunge in IBM shares, another jump in oil prices and the start of the second-quarter earnings season. Dow Jones futures were down 281 points, or 0.5%, while S&P 500 futures were 0.1% lower. Nasdaq futures were pointing...
By Ragini Mathur and Avinash P July 14 (Reuters) - S&P 500 and Dow futures fell on Tuesday in choppy trading as investors sifted through earnings reports from Wall Street's biggest banks, while IBM
Stock futures pointed in different directions Tuesday as rising energy prices, bank earnings, and key inflation data competed for investor attention
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