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Dow Futures Move Higher, Inflation Fears Intensify

Stock Markets Jul 14, 2022 07:06PM ET
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By Oliver Gray 

Investing.com -  U.S. stock futures were trading higher during Thursday’s evening deals, after major benchmark averages finished the regular session in a mixed fashion amid stronger than expected producer price data, while earnings reports from major financial companies came in below expectations.

By 07:00 PM ET (2300 GMT) Dow Jones Futures were up 0.2% while S&P 500 Futures and Nasdaq 100 Futures added 0.3% apiece.

In extended deals, Pinterest Inc (NYSE:PINS) shares surged 15.8% following a Wall Street Journal report that noted activist investor Elliott Management's stake of more than 9%.

Ahead in the session, investors will be monitoring June retail sales, import and export prices, June’s industrial production report and July’s preliminary consumer sentiment data. Meantime, Wells Fargo & Company (NYSE:WFC) and Citigroup Inc (NYSE:C) are expected to report earnings results.

During Thursday’s regular trade, the Dow Jones Industrial Average fell 142.6 points or 0.5% to 30,630.2, the S&P 500 dipped 11.4 points or 0.3% to 3,790.4 while the NASDAQ Composite finished just 3.6 points higher at 11,251.2.

Financial heavyweights retreated amid weaker than expected earnings, with Morgan Stanley (NYSE:MS) down 0.4% after reporting Q2 EPS of $1.44 versus $1.57 expected, while revenues came in at $13.13 billion versus $13.39 billion expected.

JPMorgan Chase & Co (NYSE:JPM) fell 3.5% after reporting Q2 EPS of $2.76 versus $2.94 expected on revenues of $30.72 billion versus $31.82 billion expected.

On the data front, producer prices in June surged 11.3% versus a year ago as energy prices jumped, adding to concerns of aggressive rate hikes after last session’s CPI figure surpassed expectations.

On the bond markets, United States 10-Year yields were at 2.958%.

 
Dow Futures Move Higher, Inflation Fears Intensify
 

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Comments (6)
Buy And Sell
Buy And Sell Jul 15, 2022 7:40AM ET
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Wall street crash is coming in the authumn. Banks are now suffering, loans make people go bankcrupt and then all will suffer in the authumn...
Bao Vinh
Bao Vinh Jul 14, 2022 10:36PM ET
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why pay for this ******** nothing but spammers
G D
G D Jul 14, 2022 9:40PM ET
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That's just noise. Don't post the same thing everyday, it mostly declines at opening anyway.
محمد عبد الماجد
محمد عبد الماجد Jul 14, 2022 8:48PM ET
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👍👍
Ray Sommer
Ray Sommer Jul 14, 2022 8:37PM ET
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Enough with the plugs for Bitcoin and providers. Comment on the articles and not on your business ventures
Ray Sommer
Ray Sommer Jul 14, 2022 8:36PM ET
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WTF. Enough with the plugs for Bitcoin and providers.
 
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