U.S. stock futures rose Thursday, as investors look ahead to first-quarter earnings season with uncertainty over how well companies will be able to maintain profits with expectations the economy will decelerate.
What’s happening
-
Dow Jones Industrial Average futures
YM00,
+0.07%
rose 55 points, or 0.2%, to 33868. -
S&P 500 futures
ES00,
+0.22%
gained 11 points, or 0.3%, to 4130. -
Nasdaq 100 futures
NQ00,
+0.38%
increased 47 points, or 0.4%, to 12999.
U.S. stocks fizzled out Wednesday after early gains: the Dow Jones Industrial Average
DJIA,
fell 38 points, or 0.11%, to 33647, the S&P 500
SPX,
declined 17 points, or 0.41%, to 4092, and the Nasdaq Composite
COMP,
dropped 103 points, or 0.85%, to 11929.
What’s driving markets
Data showing weaker-than-forecast inflation wasn’t enough to sustain gains on Wednesday, as minutes from the last Federal Open Market Committee reinforced expectations the central bank would again lift interest rates in May.
“The U.S. is still faced with a sustained high inflation outlook, tighter credit and banking risk, as well as a slowing economy and further rate hikes,” said Clifford Bennett, chief economist at ACY Securities.
Earnings season is beginning, with Thursday seeing results from companies including Delta Air Lines
DAL,
and Fastenal
FAST,
before a wave of banks including JPMorgan Chase
JPM,
Citigroup
C,
and Wells Fargo
WFC,
report results on Friday.
The economic calendar includes producer prices, as well as weekly jobless claims after last week’s big upward revisions.
This post was originally published on Market Watch
