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EUROPEAN MIDDAY BRIEFING : Stocks Eye Fresh Records as Inflation Fears Recede
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North American Morning Briefing: Stock Futures Tick Up After S&P 500 Hits Record
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Provided by Dow Jones
By Anna Hirtenstein and Xie Yu U.S. stock futures retreated Thursday, suggesting that the major indexes will tumble for a fourth consecutive day. Futures tied to the S&P 500 edged down 0.3%, and contracts linked to the Dow Jones Industrial Average lost over 0.5%. Nasdaq-100 futures retreated 0.1% Thursday, pointing to tepid losses for technology stocks after the opening bell. The major indexes dropped Wednesday, leaving the S&P 500 and Dow suffering their steepest three-day declines since late October. Investors are jittery after consumer prices surged higher in April, prompting concerns that the Federal Reserve may move on interest rates or scale back bond purchases sooner than expected. Fed officials have repeatedly said that they expect any jump in inflation to be transitory, but some investors aren t convinced. The threat of higher inflation is sapping money managers appetite for highflying technology shares
Plus – a deep dive into yesterday’s WASDE report
Corn down 6-14 cents
Wheat down 4-9 cents Prices as of 6:50 am CDT.
WASDE Fun Fact – New crop export paces to slow: Due to tightening U.S. supplies in the new crop year, combined corn, soybean, and wheat exports are expected to fall nearly 10% in 2021/22 from the previous year. But it may be too soon to determine that exports will be forced to shrink in an era of scarce grain stocks. Time and the highest bidder will likely have the final say in that determination.
More details about yesterday’s WASDE report will be highlighted in this morning’s report.
Provided by Dow Jones
By Anna Hirtenstein and Akane Otani U.S. stocks soared Thursday, chipping away at losses after suffering their worst three-day decline since late October. The Dow Jones Industrial Average jumped 510 points, or 1.5%, lifted by shares of everything from manufacturers to technology giants. The S&P 500 gained 1.5%, and the Nasdaq Composite climbed 1.5%. Thursday s market moves marked a comeback for U.S. stocks after a jittery start to the week. Signs that inflation may be picking up faster than expected have put investors on edge, pressuring shares in the priciest corners of the market. Data earlier this week showed consumer prices surged higher in April, while a separate report Thursday showed producer prices posted their biggest annual jump since the Bureau of Labor Statistics began tracking the data in 2010.
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