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S&P 500 And Dow Futures Up Ahead Of Inflation Data

ByAntonio Ferlito
Published 04/13/2021, 06:55 AM
Updated 03/27/2024, 08:10 AM

Futures tracking the S&P 500 and the Dow ticked higher on Tuesday ahead of data that is likely to show an uptick in inflation in a sign that the economic rebound is gathering steam.

The benchmark 10-year Treasury yield inched closer to 1.7% before the Labor Department's data that is expected to show US consumer prices rose 0.5% in March from 0.4% in February. The report is due at 8:30 a.m. ET (1230 GMT).

Gold prices fell to their lowest in more than a week on Tuesday after the metal's appeal was dented by higher Treasury yields and as investors awaited U.S. In the video at the end of the article you'll find our view on the gold market.

Investors are also marking time ahead of the start of the first-quarter earnings season, with results from Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) on deck on Wednesday.

Analysts expect earnings for S&P 500 firms to jump 25% from a year ago, driven by strength in consumer discretionary and financial companies, according to Refinitiv IBES data.

Among stocks, US.-listed shares of e-commerce firm JD.com (NASDAQ:JD) and search giant Baidu (NASDAQ:BIDU) fell about 2% each in premarket trading as China's market regulator warned internet companies to stop using any banned practices.

Cryptocurrency and blockchain-related firms including Riot Blockchain (NASDAQ:RIOT) and Marathon Digital Holdings jumped 9% and 8% as bitcoin prices soared 4.5%, a day ahead of listing of Coinbase, the largest US cryptocurrency exchange.

Source: Reuters

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