US stock futures edge higher as Treasury yields dip; inflation awaited By
2024-05-10 10:20:03

-- U.S. stock index futures rose slightly in evening deals on Thursday, extending gains from a positive session on Wall Street as more signs of a cooling labor market brought down Treasury yields.

Investors largely maintained bets that the Federal Reserve will start cutting interest rates by September, although key inflation data next week is widely expected to factor into this outlook.

rose 0.1% to 5,244.50 points, while rose 0.1% to 18,235.75 points by 19:45 ET (23:45 GMT). rose 0.1% to 39,592.0 points.

Wall St rises, yields drop amid more signs of cooling labor market

Wall Street indexes rose on Thursday, with the Dow clocking a seventh straight day of gains as a bigger-than-expected increase in weekly furthered expectations of a cooling labor market. 

The data, which came nearly a week after a substantially softer-than-expected reading, sparked a drop in Treasury yields, with the falling 0.8% on Thursday. 

Wall Street capitalized on the drop in yields, with the rising 0.5% to finish at 5,214.08 points on Thursday. The rose 0.3% to 15,346.27 points, while the jumped 0.9% to 39,387.76 points. 

Expectations of rate cuts were a key driver of Wall Street in recent sessions, especially amid growing signs that the U.S. economy may be cooling. But sticky inflation remained a point of concern.

CPI data on tap next week 

This trend put focus squarely on a inflation reading for April, due next week. The reading is expected to moderate after overheated prints for the past three months, but is still likely to remain above the Fed’s 2% target.

A string of Fed officials warned this week that sticky inflation will keep interest rates high for longer, although they also dismissed the possibility of more rate hikes. 

The showed traders pricing in a nearly 50% chance the Fed will cut rates by 25 basis points in September. 

Akami, Unity sink on weak earnings

Among major aftermarket movers, cloud services firm (NASDAQ:) fell 10.6% after posting disappointing guidance for the current quarter and for 2024.

Videogame software developer (NYSE:) fell nearly 5% after its quarterly earnings per share missed estimates. 

The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。