Futures Edge Higher After Record Day

(MENAFN- Baystreet) Indices Close at Record Highs

  • NASDAQ, S&P at All-Time Highs on Soft Inflation Report
  • NASDAQ, S&P at All-Time Highs
  • Futures Flat Ahead of Inflation Report
  • NASDAQ Jumps to Record High Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Thursday, May 16, 2024

    Futures Edge Higher After Record Day Advertisment
    Stock futures rose marginally Thursday after a lighter-than-expected inflation reading propelled the major averages to record highs.
    Futures for the Dow Jones Industrials tacked on 27 points, or 0.1%, to 40,066.
    Futures for the S&P 500 pointed upward 4.25 points, or 0.1%, at 5,337.25.
    Futures for the NASDAQ Composite grabbed 25.5 points, or 0.1%, to 18,715.50.
    The three major averages closed at records on Wednesday, with the S&P 500 breaking above 5,300 for the first time.
    That performance was helped by the April reading of the consumer price index, a broad measure of how much goods and services cost at the cash register, which increased 0.3% from the prior month. That was slightly below the Dow Jones estimate of 0.4%. Consumer prices still grew 3.4% from a year ago.
    The tail end of the earnings season continued, with Walmart reporting better-than-expected quarterly results. Shares were up more than 47%.
    On Thursday, investors have a batch of economic data to look forward to, including the widely watched weekly jobless claims at 8:30 a.m. Eastern and the Philadelphia Federal Reserve manufacturing index.
    In Japan, the Nikkei 225 leaped 1.4%, while in Hong Kong, the Hang Seng hiked 1.6%.
    Oil prices inched up one cent to $78.64 U.S. a barrel.
    Gold prices fell $6.60 to $2,388.30 U.S. an ounce.

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