Stock Futures Edge Up Ahead of Inflation Data

May 11, 2022 3:34 a.m. ET

U.S. futures inched higher ahead of an update on consumer prices that will be closely watched as investors consider the impact that elevated inflation could have on Bureaucratic policy. Federal Reserve.

S&P 500 futures rose 0.3% and Dow Jones Industrial Average futures gained 0.3%. Contracts do not necessarily predict movements after the market opens.

European stocks rallied on Wednesday after a four-day losing streak. Stoxx Europe 600 rose 0.6% in morning trade. The consumer goods and energy sectors led the gains while the healthcare sector lost ground.

The UK’s FTSE 100 added 0.5%. Other stock indexes in Europe also mostly gained, with France’s CAC 40 up 1%, Britain’s FTSE 250 up 0.4% and Germany’s DAX up 0.3%.

The Swiss franc, euro and British pound gained 0.3%, 0.3% and 0.1% respectively against the US dollar.

In commodities, international benchmark Brent crude rose 2.2% to $104.76 a barrel. Gold also rose 0.1% to $1,843.30 an ounce.

The German 10-year bundle yield fell to 1.004% and the 10-year British government debt known as gilt yield was reduced to 1.830%. Yields on 10-year US Treasuries fell from 2.990% to 2.953%. Yields move inversely with bond prices.

In Asia, the major indexes rallied with Hong Kong’s Hang Seng up 1.7% after falling 0.7% in the session, Japan’s Nikkei 225 up 0.2% and the Shanghai Composite. China rose 0.8%.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2022. REUTERS / Brendan McDermid



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